The Indian Ocean as cradle of a new blue economy, Pg8

Key Highlights:

• India is urged to take a leadership role in shaping practices for the Indian Ocean to ensure it becomes a laboratory of sustainability, innovation, and resilience.
• The Blue Economy and Finance Forum (BEFF) in Monaco in June 2025 highlighted a €25 billion pipeline of existing ocean investments and announced €8.7 billion in new commitments.
• The One Ocean Partnership was launched at COP30 in Belém, committing to mobilize $20 billion for ocean action by 2030.
• India's doctrine of Security and Growth for All in the Region (SAGAR) offers an important anchor for a zone of peace, stability and prosperity in the Indian Ocean.

Detailed Insights:

• India should prioritize ecosystem restoration, biodiversity protection, and sustainable fisheries to promote cooperative management in the Indian Ocean.
• India can establish a Regional Resilience and Ocean Innovation hub to strengthen ocean observation networks and improve early warning systems.
• Green shipping, offshore renewable energy, sustainable aquaculture, and marine biotechnology offer development pathways compatible with climate goals for Indian Ocean littoral states.
• An Indian Ocean Blue Fund, seeded by India, could channel global financing into regional priorities related to ocean sustainability.
• Addressing threats like Illegal, Unreported, and Unregulated (IUU) fishing and coral reef degradation requires a shift towards security through sustainability.
• India's approach to the Indian Ocean should be cooperative, consultative, and outcome-oriented, aimed at shared prosperity and stability.
• India's readiness to ratify the Biodiversity Beyond National Jurisdiction (BBNJ) Agreement presents an opportunity to pioneer globally relevant solutions.

Key Concepts Involved:

• Blue Economy: Sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of ocean ecosystem.
• UNCLOS (United Nations Convention on the Law of the Sea): International agreement that establishes the legal framework for all marine and maritime activities.
• SAGAR (Security and Growth for All in the Region): India's vision for the Indian Ocean region, emphasizing cooperative security and sustainable development.