India’s Blue Economy Report

Why in news?

NITI Aayog has released a report on “India’s Blue Economy: Strategy for Harnessing Deep-Sea and Offshore Fisheries”.

• The report outlining a phased approach for sustainable development of fisheries sector using technology and community involvement.
• The strategy is based on a framework that is science-based, technology-enabled, socially inclusive, and ecologically sustainable, identifies six key policy interventions.

Key Findings of the report

• Economic growth – India is the 2^nd largest fish-producing country in the world, accounting for 8% of global production.
• India’s fisheries sector supports nearly 30 million livelihoods and contributes significantly to exports, with fishery products earning Rs. 60,523 crore in FY 2023–24.
• Untapped potential – Despite having an Exclusive Economic Zone (EEZ) with an untapped potential of 7.16 million tonnes (MT) of resources, India's deep-sea and offshore fishing sectors remain underdeveloped.
• Limited high-seas presence – Only 4 Indian-flagged vessels operate in high seas versus Sri Lanka’s 1,883 and Iran’s 1,216, reflecting weak international engagement.
• Revise the existing act – The outdated guidelines of India's Merchant Shipping (MS) Act, 1958, which permit the registration of Indian-flagged fishing boats to operate only within 12 nautical miles from the coast, should be revised.
• Recommends a separate act – “Vessels Act” to facilitate the registration of modern fishing vessels capable of going beyond 12 nautical miles and in deep-sea areas.
• Comprehensive framework – For covering the deep-sea fishing sector within India’s EEZ and international waters accessed through regional fisheries agreements.
• Fleet modernization – Inclusive fleet development by supporting fisher cooperatives and cluster-based approaches, enabling collective ownership, operations, and access to modern technology.
• 3 phase strategic roadmap – To realize the potential of India’s deep-sea and off-shore fishing.
  • Phase 1 (2025–2028) – Laying the foundation and fostering early growth
  • Phase 2 (2029–2032) – Scaling up and achieving global competitiveness.
  • Phase 3 (2033 onwards) – Global leadership in sustainable deep-sea fisheries.
• 6 key policy interventions -
  • On overhauling policies and regulations;
  • Strengthening institutional and capacity building;
  • Modernizing fleets and upgrading infrastructure;
  • Promoting sustainable fisheries management;
  • Mobilizing resources and financing; and
  • Enhancing local community participation and partnerships.

Key challenges

• Infrastructure and technological gaps – Only 90 fishing harbours are adequately equipped to handle larger deep-sea vessels.
• Harvesting deep-sea resources efficiently also remains a technological challenge.
• Regulatory Gaps – India currently lacks specific regulatory laws for fishing activities within the EEZ, contributing to Illegal, Unreported, and Unregulated (IUU) fishing concerns.
• Further, maritime states are currently limited to issuing licenses only for fishing activities within the 12 nautical mile territorial waters.

Reference

1. PIB | NITI Aayog releases report on India’s Blue Economy
2. The Print | Niti Aayog report on India’s Blue Economy