PIB Summary- 23th March, 2024 | Current Affairs & Hindu Analysis: Daily, Weekly & Monthly - UPSC PDF Download

Ministry of Earth Sciences hosts Inter-Ministerial Joint Workshop on Blue Economy

Context

The Ministry of Earth Sciences led a workshop on India’s Blue Economy report, emphasizing sustainable ocean resource utilization for economic growth.

Additional information on this news:

• Ministry of Earth Sciences (MoES) organized a consultative workshop in New Delhi on the Blue Economy Pathways study report status.
• Experts from the World Bank, various line Ministries, Niti Aayog, and state/national R&D organizations participated.
• MoES collaborated with the World Bank to prepare a report titled ‘India’s Blue Economy: Pathways for resource-efficient, inclusive, and resilient growth.’
• The report aims to cover global best practices, ocean accounting framework, institutional strengthening, and innovative finance mechanisms.
• Blue Economy emphasizes sustainability, socio-economic welfare, improving coastal communities’ lives, preserving marine ecosystems, and maintaining marine areas’ security.
• India’s 7,517 km coastline and vast Exclusive Economic Zone (EEZ) offer rich living and non-living resources.
• The coastal economy sustains over 4 million fisherfolk and coastal communities, highlighting the critical role of the Blue Economy in India’s economic growth.
• Efficient and sustainable utilization of ocean resources aims to accelerate employment and gross value addition while safeguarding the environment in line with UN Sustainable Development Goals (SDGs).
• India’s maritime role is crucial for its high-growth economy and geo-strategic influence in the region.
• The potential of marine resources remains largely untapped, including ports, coastal infrastructure, shipping, fishing, renewable energy, and seabed resources.

What is Blue Economy and Significance for India:

• The Blue Economy refers to the sustainable use of ocean resources for economic growth, job creation, and improved livelihoods while ensuring the health and preservation of marine ecosystems.

 Significance for India:

• India’s extensive coastline of over 7,500 kilometers and an exclusive economic zone of more than 2 million square kilometers present vast opportunities for leveraging the Blue Economy.
• Blue Economy sectors like fisheries, aquaculture, shipping, coastal tourism, renewable energy, and marine biotechnology can significantly contribute to economic growth, job creation, and improved livelihoods.
• The Blue Economy aligns with India’s developmental goals, including the promotion of sustainable development, environmental conservation, and social inclusivity.

Challenges:

• Overfishing and unsustainable fishing practices threaten marine biodiversity and fish stocks.
• Pollution from industries, coastal cities, and shipping poses a significant threat to marine ecosystems.
• Climate change impacts, such as ocean acidification and rising sea levels, affect coastal communities and marine habitats.
• Maritime security concerns, including piracy and illegal, unreported, and unregulated (IUU) fishing, pose challenges to sustainable Blue Economy development.

Way Forward:

• Implement and enforce robust regulatory frameworks to ensure sustainable exploitation of marine resources.
• Invest in research and technology development for sustainable fishing practices, marine pollution control, and climate change mitigation and adaptation.
• Promote public-private partnerships for infrastructure development, capacity building, and investment in Blue Economy sectors.
• Enhance international cooperation and regional partnerships for maritime security, resource management, and technology transfer.
• Empower coastal communities through skill development, education, and alternative livelihood options to reduce dependence on unsustainable practices.
• Raise awareness among stakeholders about the importance of marine conservation and sustainable resource management.

Prime Minister arrives in Bhutan

Context

Indian Prime Minister Narendra Modi visits Bhutan on a state visit, emphasizing India’s Neighbourhood First Policy, strengthening bilateral ties, and inaugurating a new hospital.

Additional information on this news:

• Prime Minister Narendra Modi visited Bhutan on a State Visit from March 22-23, 2024, emphasizing India’s Neighbourhood First Policy.
• He was warmly received by Bhutanese Prime Minister Tshering Tobgay at Paro airport and received ceremonial welcome.
• Talks were held with Bhutanese Prime Minister Tshering Tobgay to strengthen bilateral ties.
• PM Modi inaugurated the Gyaltsuen Jetsun Pema Mother and Child Hospital in Thimphu, showcasing India’s assistance in building state-of-the-art healthcare facilities in Bhutan.

India – Bhutan Relations

Importance for India:

• Strategic Importance: Bhutan serves as a buffer state between India and China, providing a strategic advantage to India in terms of security.
• Economic Cooperation: India is Bhutan’s largest trading partner and provides significant economic assistance, contributing to Bhutan’s development.
• Cultural and People-to-People Ties: India and Bhutan share deep cultural and historical ties, fostering goodwill and understanding between the two nations.
• Hydroelectric Power: India benefits from Bhutan’s hydroelectric power projects, which contribute to India’s energy security and help meet its growing energy demands.

Importance for Bhutan:

• Security: Bhutan benefits from India’s security umbrella, which helps maintain stability and sovereignty in the region.
• Economic Development: India’s assistance in various sectors such as infrastructure, healthcare, and education supports Bhutan’s economic growth and development.
• Hydropower Export: Bhutan earns revenue from exporting surplus hydropower to India, which contributes significantly to its economy.
• Capacity Building: India’s support in capacity building and skill development enhances Bhutanese human resources and administrative capabilities.

Challenges:

• Border Disputes: The unresolved border issues between Bhutan and China pose a challenge to both countries and require delicate handling.
• Dependency Concerns: Bhutan’s heavy reliance on India for economic and security assistance raises concerns about dependency and sovereignty.
• Environmental Concerns: Hydroelectric projects in Bhutan, while economically beneficial, raise environmental concerns such as deforestation and habitat destruction.
• Balancing Relations: Bhutan needs to balance its relations with India and China while safeguarding its own interests and sovereignty.

Way Forward:

• Strengthen Bilateral Ties: Both countries should continue to strengthen their bilateral relations through increased cooperation in various sectors.
• Address Border Issues: India and Bhutan should work towards resolving border disputes with China through dialogue and diplomatic channels.
• Economic Diversification: Bhutan should focus on diversifying its economy to reduce dependency on a single partner and promote sustainable development.
• Environmental Conservation: Both countries should collaborate on sustainable development practices and ensure the environmental impact of projects is minimized.
• Enhance People-to-People Ties: Promoting cultural exchanges and people-to-people interactions will further deepen the bond between India and Bhutan.