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- W3035898693 abstract "Oceans cover approximately 71 percent of our planet’s surface. They provide food and livelihood to the major part of the global population and almost 80 percent of international trade is carried out through the water, which makes it a key source for economic development. As a step to preserve these resourceful water bodies, the UN has included marine preservation in its sustainable development goals - SDG14 “Conserve and sustainably use the oceans, seas and marine resources for sustainable development.” To work towards this goal, the concept of Blue Economy was first introduced in the UN conference on sustainable development in Rio, 2012.Blue Economy as a concept aims for socio-economic development and the preservation and improvement of several livelihoods while maintaining the environmental sustainability of the oceans and coastal areas. It is not limited to just marine products and resources but also encompasses coastal tourism, maritime transport, aquaculture, offshore renewable energy, and various biotechnology aspects. Blue Economy has evolved largely from the concept of Green Economy. This article will focus on three basic aspects.First, the introduction of the Blue Economy and its impact on achieving economic and social tranquillity and a major solution to attain sustainability. Continuing from the evolution of this concept, the second will analyze India’s increasing steps in the development of the Blue Economy and its impact on its relations with other countries such as Bangladesh and Small Island Developing States (SIDS). Third, this article will analyze the impact of the Blue Economy on a select few nations with growing economies and the challenges the Blue Economy will bring forth. This article seeks to analyze the Blue Economy as an area of development for nation-states to improve society, the environment, and individual economic capabilities.DOI: 10.5281/zenodo.3622912" @default.
- W3035898693 created "2020-06-25" @default.
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- W3035898693 date "2019-06-30" @default.
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- W3035898693 title "The Emerging Blue Economy: Its Development and Future Prospects" @default.
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