Blue Economy

Aaditya Deore

Blue Economy

The Blue Economy refers to the sustainable use of marine resources for economic growth, livelihoods, and transportation, while also conserving the marine ecosystem.

In India, the Blue Economy includes shipping, coastal and marine tourism, fishing, and offshore oil and gas production etc.

Why the Blue Economy Needs to be Promoted :

  1. India has a long coastline of about 7,500 kilometers and has the necessary ports and shipyards for a strong marine economy.
  2. The global ocean economy is expected to reach an estimated $3 trillion by 2030.
    • Under the Blue Economy, there is a strong focus on strengthening the fisheries sector in India.
    • Currently, India is the second-largest fish producer in the world, contributing about 8% to global production.

Efforts to Promote Fisheries :

  • Union Budget 2025-26: Over ₹2,700 crore has been allocated for the fisheries sector.

  • Pradhan Mantri Matsya Sampada Yojana (PMMSY):

    • This scheme works to improve fish production and productivity, enhance quality standards, bring in modern technology, strengthen post-harvest infrastructure, and improve management.
    • As of July 22, 2025, the Department of Fisheries has approved fishery development projects worth ₹21,274.16 crore under PMMSY.
    • Three smart and integrated fishing harbours have been approved under this scheme:
      • Vanakbara in Diu
      • Karaikal in Puducherry
      • Jakhau in Gujarat

    • Pradhan Mantri Matsya Kisan Samridhi Sah Yojana (PM-MKSSY):

      • This is a central sector sub-scheme under the Pradhan Mantri Matsya Sampada Yojana (PMMSY).
      • Time Period : for four years from 2023-24 to 2026-27
      • Estimated Financial Outlay : ₹6,000crore.
      • It helps formalize the fisheries sector, provide insurance coverage, improve access to financial support, and ensure quality throughout the value chain.

    • National Fisheries Digital Platform (NFDP):

      • This platform was developed under the Pradhan Mantri Matsya Kisan Samridhi Sah Yojana (PM-MKSSY).
      • Its goal is to formalize the fisheries and aquaculture sector by creating a work-based digital identity for all stakeholders.
      • As of August 2025, over 26 lakh stakeholders, including fishermen, micro-enterprises, and private companies, have registered on the portal.

    • Fisheries and Aquaculture Infrastructure Development Fund:

      • This fund was established to strengthen infrastructure in marine and inland fisheries.
      • The National Fisheries Development Board acts as the nodal agency for its implementation.
    • Kisan Credit Card Scheme benefits have been extended to the fisheries sector.
    • Dharti Aaba Tribal Gram Utkarsh Abhiyan has been aligned with Pradhan Mantri Matsya Sampada Yojana (PMMSY) to provide assistance to tribal community groups and individuals for fishing.

International Collaboration

  • March 2025: The Department of Fisheries signed a Technical Cooperation Programme with the FAO (Food and Agriculture Organization of the United Nations) to strengthen Blue Ports in India.
  • May 2025: A joint workshop was held with the French Development Bank (AFD) to promote the concept of Eco-Fishing Ports.

 

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