Development of ‘Blue Economy’ with Special Reference to Coastal India: A Present and Future Scenario

Since antiquity, the oceans and its littoral regions have a vital significance in Hindu religion and its greatness has profusely illustrated in the ancient holy scripts. Today, the ocean has a vital significance in relation to its economic and strategic significance which has been nomenclature as ‘Blue Economy'. Present paper examines the present and prospective positions of sea borne-minerals and other natural resources of the world with special reference to India. The paper also touches on its strategic importance and the potential for shipments, trade, tourism, fisheries, and coastal based industries and its future scenario. Lastly, the paper also reviews the growth and development of ‘Blue Economy' in the developed and developing countries. The paper also highlights some of the varied problematic areas of ‘Blue Economy' in the changing socio-economic and political scenario of the world. There are few suggestions, which are essential to pave the way to exploit the sea-born natural resources on a sustainable basis so that a sustainable development of ‘Blue Economy' may take place in accordance with changing scenarios.