Impact of Blue economy on Economic growth in India

Abstract

The Blue Economy has emerged as an important driver of economic growth in India, with the potential to contribute significantly to the country’s GDP, employment, and exports. This dissertation aims to explore the impact of the Blue Economy on India’s economic growth by analysing the major sectors of the Blue Economy, their contribution to the economy, and the challenges faced by the sector. The study is based on data from various sources including government reports and academic literature. The findings suggest that the Blue Economy has the potential to drive sustainable economic growth in India, but there are significant challenges that need to be addressed, including overfishing, pollution, and climate change. The study recommends several measures to promote the sustainable development of the Blue Economy, including investment in research and development, promotion of sustainable fishing practices, development of coastal infrastructure, strengthening institutional capacity, enhancing public awareness, and collaboration with international partners. Overall, the study highlights the importance of the Blue Economy for India’s economic growth and the need for sustainable development to ensure its long-term sustainability.