Is the Blue Economy Key to India's Growth?
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Synopsis
Prime Minister Modi asserts the significance of the Blue Economy for India's growth, showcasing initiatives that empower communities and foster innovation. With a focus on sustainability, these efforts aim to enhance India's global maritime presence and promote women's empowerment in emerging sectors.
Key Takeaways
- Blue Economy is vital for India's growth.
- Key initiatives include Sagarmala and Deep Ocean Mission.
- PMMSY has led to record fish production.
- Fisheries exports have increased significantly.
- Women empowerment is a crucial focus of these initiatives.
New Delhi, Sep 19 (NationPress) Prime Minister Narendra Modi emphasized that the Blue Economy is vital for India's growth, merging prosperity, sustainability, and national strength.
Initiatives such as Sagarmala, Deep Ocean Mission, and Harit Sagar Guidelines to utilize ocean resources are empowering communities, fostering innovation, and bolstering India's leadership in global ocean governance, PM Modi remarked.
The Prime Minister was responding on X to a post by Union Minister of State Dr. Jitendra Singh, who penned the article.
The piece indicates that with a revised coastline surpassing 11,098 kms and a vast Exclusive Economic Zone covering 2.4 million square kms, India is exceptionally positioned to develop a $100 billion growth engine through sustainable ocean resource utilization — generating jobs, supporting coastal communities, safeguarding marine ecosystems, and enhancing our global maritime stature.
“We are transitioning into Blue Economy 2.0, focusing not only on traditional sectors but also on emerging high-potential areas that will shape our future growth. For instance, the Deep Ocean Mission is equipping our scientists to explore the deep sea with the Matsya submersible, aiming to discover strategic resources and develop new technologies. The Sagarmala Programme is modernizing our ports to enhance trade efficiency and boost business competitiveness. The Pradhan Mantri Matsya Sampada Yojana (PMMSY) is a flagship initiative bringing a blue revolution to our fisheries sector,” Singh stated.
However, our vision extends far beyond this. It empowers individuals and safeguards our planet. It includes creating new opportunities for women's empowerment by encouraging them to lead in sustainable sectors such as seaweed farming and eco-tourism, providing them with new income sources and a stronger voice in their communities, he added.
The PMMSY scheme marked its fifth anniversary on September 10, 2020, as a significant initiative that has initiated the “Blue Revolution” in India’s fisheries sector, positioning the country as the second-largest fish producer globally.
Through this scheme, India achieved record fish production of 195 lakh tonnes in 2024-25, a significant increase from 141.64 lakh tonnes in 2019–20, contributing nearly 8 percent to global fish production.
India's fisheries exports have witnessed robust growth, rising from Rs 46,662.85 crore in 2019–20 to Rs 60,524.89 crore in 2023–24, reinforcing the country’s standing in the global seafood market.
The PMMSY has successfully generated 58 lakh employment opportunities as of December 2024, exceeding the target of 55 lakh. It has also empowered 99,018 women through an allocation of Rs 4,061.96 crore sanctioned from 2020–21 to 2024–25, the statement mentioned.
The scheme aims to create an ecologically sound, economically viable, and socially inclusive fisheries sector by addressing critical gaps in production, quality, technology infusion, and post-harvest infrastructure.
PMMSY promotes women's participation in fisheries by providing up to 60 percent of the total project cost as financial support (up to Rs 1.5 crore per project) for beneficiary-oriented activities and the entrepreneur model.
Point of View
It is crucial to recognize the transformative potential of the Blue Economy for India. This strategic approach not only focuses on economic growth but also emphasizes environmental sustainability and community empowerment. By investing in ocean resources and infrastructure, India is poised to strengthen its position on the global stage while ensuring inclusive development.
NationPress
20/09/2025
Frequently Asked Questions
What is the Blue Economy?
The Blue Economy refers to the sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of ocean ecosystems.
How does the PMMSY impact India's fisheries sector?
The PMMSY has led to significant growth in fish production and exports, creating employment opportunities and empowering women in the fisheries sector.
What initiatives are part of India's Blue Economy strategy?
Key initiatives include the Sagarmala Programme, Deep Ocean Mission, and Harit Sagar Guidelines, aimed at optimizing ocean resource utilization and enhancing maritime infrastructure.
What are the benefits of the Blue Economy for coastal communities?
The Blue Economy initiatives aim to create jobs, support sustainable livelihoods, and empower women, ultimately improving the quality of life for coastal communities.
How is India positioned in global fisheries production?
India is currently the second-largest fish producer in the world, contributing significantly to global fish production and exports.
