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Tuesday 11 April 2023

Building a Blue Economy: What India Can Learn from China

 Building a Blue Economy: What India Can Learn from China

Building a Blue Economy: What India Can Learn from China


India and China are the world's fastest-growing economies and emerging superpowers. Both countries have a long history of trade and commerce, and their economies are closely linked to the sea. However, China has been more successful in leveraging its blue economy to achieve sustained economic growth. On the other hand, India needs to adopt this approach and could learn a lot from China's experience.


The Blue Economy: A Definition


The blue economy refers to economic activities related to the oceans, seas, and coasts. These activities include fisheries, aquaculture, maritime transport, coastal tourism, and offshore energy. The blue economy is an important driver of economic growth and job creation, especially for developing countries like India and China.


China's Blue Economy


China has been a leader in the development of its blue economy and has been successful in leveraging its maritime resources to drive economic growth. China has invested heavily in its maritime infrastructure, including ports, ships, and other maritime facilities. China is also a major player in the global shipping industry and has a large fishing industry.


China's approach to the blue economy is based on a comprehensive and integrated strategy that includes a range of policies and measures to promote sustainable development. The Chinese government has set up a special fund to support the development of its blue economy and has established a network of marine protected areas to conserve marine biodiversity. China has also developed a national plan for marine spatial planning to ensure the sustainable use of marine resources.


India's Blue Economy


India has a long coastline of over 7,500 km and an exclusive economic zone (EEZ) of 2.02 million sq. km. Despite this, India has been slow to develop its blue economy and has yet to leverage its maritime resources to drive economic growth fully. India's fishing industry is relatively small, and the country's maritime infrastructure is underdeveloped. India's maritime transport sector also needs to be developed, and the country has a limited presence in the global shipping industry.


However, there are some positive developments in India's blue economy. India has launched the Sagarmala program, which aims to develop its maritime infrastructure and boost coastal economic growth. The government has also launched the Blue Revolution program, which aims to increase fish production and create new job opportunities in the fishing sector. India is also a major player in the offshore wind energy sector and has set ambitious targets for developing this sector.


What India Can Learn from China


India can learn much from China's experience developing its blue economy. India should adopt a comprehensive and integrated approach to the blue economy, which includes a range of policies and measures to promote sustainable development. India should also invest in its maritime infrastructure, including ports, ships, and other maritime facilities. India should also develop a national plan for marine spatial planning, which is aimed at ensuring the sustainable use of marine resources.


India should also focus on developing its fishing industry, which has great growth potential. The government should provide incentives for fishermen to adopt sustainable fishing practices and should promote the development of aquaculture. India should also focus on developing its maritime transport sector, which has the potential to become a major driver of economic growth.


Conclusion


India has great potential to develop its blue economy and achieve sustained economic growth. However, India needs to adopt a comprehensive and integrated approach to the blue economy and should learn from China's experience in this regard. India should invest in its maritime infrastructure, develop its fishing industry, and focus on developing its maritime transport sector. By doing so, India can unlock the full potential of its maritime resources and achieve sustained economic growth.


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