G20 to G21: India Presidency’s Conclusions on the Blue Economy

The G20 has long been a platform for some of the world’s most influential economies to come together and address pressing global issues. In recent years, the focus on sustainable development and environmental concerns has grown significantly. With India assuming the presidency of the G20 in 2023, there has been a keen interest in the nation’s stance on critical matters, including the blue economy.
Blue Economy in the G20 Countries and Current Threats

The G20 is made up of coastal nations, comprising 45 percent of the coastline and 21 percent of Exclusive Economic Zones (EEZ) globally. Maritime activities play a crucial role in the economic growth of the G20 countries through international shipping, tourism, providing natural resources, and fossil fuels. They contribute to food and energy security and supporting livelihoods through ship building, fishing, maritime services, and other ancillary industries. The global ocean produces over half of the world’s oxygen, acts as a heat sink, and mediates global weather. Marine and coastal ecosystems provide critical coastal protection, carbon storage, and sequestration. The ocean also provides non-material benefits such as a communal identity, recreation, aesthetic, and scientific benefits, and is part of humanity’s spiritual and cultural heritage.

Threats to coastal and marine ecosystems emerge from human pressures including marine pollution, climate change, overfishing, unsustainable coastal development, gaps in ocean governance, poor management, lack of enforcement capacity, and the primacy of economic growth over other goals. Among other deleterious effects, this leads to the degradation of natural capital and decreasing resilience. Further, there are several direct and indirect synergies between SDG 14 (‘Conserve and sustainably use the oceans, seas and marine resources for sustainable development’) and other SDGs. Considering the centrality of the global ocean in delivering sustainable development, transitioning to the Blue Economy is vital for the G20 countries.
The blue economy, a concept cantered around the sustainable use of ocean resources while ensuring the preservation of marine ecosystems, has garnered immense importance on the global stage. In this article, we will delve into India’s presidency conclusions on the blue economy as it transitions from the G20 to the G21 group, emphasizing India’s commitment to promoting sustainable practices in maritime development and marine conservation.
Understanding the Blue Economy
Before delving into India’s presidency conclusions, it is essential to understand the concept of the blue economy. The blue economy encompasses all economic activities that directly or indirectly take place in the marine environment. This includes fisheries, aquaculture, shipping, tourism, and offshore energy production, among others. However, the crux of the blue economy is the responsible and sustainable use of these resources, ensuring the long-term health of our oceans and marine ecosystems.

The blue economy presents immense opportunities for economic growth and employment while simultaneously addressing pressing global challenges such as climate change, poverty, and food security. But with great potential comes great responsibility, and the sustainable development of the blue economy must be a top priority for all nations.
Government Initiatives
• The Government of India has launched several initiatives to promote the development of a blue economy, such as

Initiative Description
Sagarmala initiative A program launched in 2015 to promote port-led development and boost the country’s maritime sector. It aims to modernize ports, improve connectivity and logistics, and promote coastal community development.
Shipbuilding Financial Assistance Policy A policy introduced in 2016 to provide financial assistance to Indian shipyards for the construction of ships. It aims to boost domestic shipbuilding and make Indian shipyards globally competitive.
Pradhan Mantri Matsya Sampada Yojana A scheme launched in 2020 to boost the fisheries sector in India. It aims to increase fish production, modernize fishing infrastructure, and create employment opportunities in the sector.
Sagar Manthan dashboard An online dashboard launched in 2018 to track the progress of the Sagarmala initiative. It provides real-time information on project implementation, fund utilization, and other related metrics.
Deep Ocean Mission A program launched in 2021 to explore the deep sea and harness its resources for national benefit. It aims to explore the deep sea, map its resources, develop technologies for deep-sea mining, and promote ocean conservation.
Coastal Regulation Zone notification A regulation introduced in 2019 to manage development activities along India’s coastline. It aims to balance the economic development of coastal areas with the conservation of coastal ecosystems and livelihoods of coastal communities.
• The government has also taken steps to eliminate single-use plastic and combat plastic pollution, including in the marine environment.

India’s Presidency and the Transition to G21
In 2023, India assumed the presidency of the G20, marking its second presidency since its formation in 1999. During its tenure, India made significant strides in addressing various global issues, including the blue economy. As India transitions from the G20 to the G21, the world eagerly awaits its continued commitment to sustainable practices in the blue economy.
India’s Historic Connection to the Ocean
India has a rich maritime history that dates back thousands of years. The country’s coastline spans approximately 7,500 kilometers, providing ample opportunities for both economic development and environmental conservation. India’s historic connection to the ocean, coupled with its commitment to sustainable practices, positions it as a crucial player in shaping the future of the blue economy.
Conservation and Protection of Marine Ecosystems
India’s presidency of the G21 underscores its dedication to the conservation and protection of marine ecosystems. The nation recognizes that a healthy blue economy is contingent on thriving marine life and intact ecosystems. India has committed to stricter regulations on overfishing, illegal fishing, and habitat destruction to preserve its rich biodiversity.

One of India’s key conclusions is the promotion of Marine Protected Areas (MPAs) to safeguard critical habitats and breeding grounds for marine species. India has pledged to work with other G21 member nations and international organizations to expand the coverage of MPAs worldwide. This initiative reflects India’s commitment to the United Nations Sustainable Development Goal 14 (Life Below Water), which aims to conserve and sustainably use the oceans, seas, and marine resources.
Sustainable Fishing Practices
Fishing is a cornerstone of the blue economy, providing livelihoods to millions of people worldwide. However, overfishing and destructive fishing practices threaten the sustainability of global fisheries. India’s presidency emphasizes the importance of transitioning to sustainable fishing practices through improved management, regulation, and technology.
India’s conclusions include the promotion of responsible and ethical fishing practices, such as reducing bycatch, implementing size and catch limits, and supporting small-scale and artisanal fisheries. By encouraging sustainable fishing, India aims to ensure that future generations can continue to benefit from the oceans’ resources.
Climate Change Mitigation and Adaptation
Climate change poses a severe threat to the world’s oceans and coastal communities. Rising sea levels, ocean acidification, and extreme weather events are just a few of the challenges that must be addressed. India’s presidency of the G21 emphasizes the urgent need to mitigate and adapt to the impacts of climate change on the blue economy.
One of India’s key conclusions is the promotion of green and sustainable maritime infrastructure. This includes investments in renewable energy sources like offshore wind farms and the development of resilient coastal infrastructure to withstand the effects of climate change. By prioritizing climate resilience, India aims to protect its coastal communities and ensure the long-term viability of its blue economy.
Maritime Security and Governance
Ensuring maritime security and effective governance of the oceans is paramount to the success of the blue economy. India, as a major maritime nation, recognizes the need for cooperation among G21 member nations to address issues such as piracy, illegal fishing, and maritime disputes.
India’s presidency conclusions highlight the importance of international collaboration in maintaining peace and security at sea. The nation is committed to working with other G21 members to strengthen maritime governance and promote the rule of law in maritime affairs. This includes efforts to resolve disputes through peaceful means and uphold the principles of the United Nations Convention on the Law of the Sea (UNCLOS).
Blue Innovation and Technology
Innovation and technology play a vital role in unlocking the full potential of the blue economy. India’s presidency of the G21 underscores the need for investment in research and development to harness the benefits of the ocean sustainably.

India’s conclusions include initiatives to promote blue innovation, such as the development of advanced fishing technologies that reduce environmental impact, the exploration of deep-sea mining technologies that minimize harm to the marine environment, and the advancement of marine biotechnology for pharmaceutical and nutritional purposes. By fostering innovation, India aims to create new opportunities for economic growth while ensuring responsible resource utilization.
Capacity Building and International Cooperation
India recognizes that achieving sustainable development in the blue economy requires the active involvement of all nations, particularly those with smaller economies or limited maritime resources. India’s presidency of the G21 places a strong emphasis on capacity building and international cooperation.
India’s conclusions include initiatives to provide technical assistance and capacity-building programs to developing coastal nations. These programs aim to empower nations with the knowledge and resources necessary to manage their marine resources sustainably and participate in the blue economy on equal footing.
India’s presidency conclusions on the blue economy as it transitions from the G20 to the G21 highlight the nation’s unwavering commitment to sustainable practices in maritime development and marine conservation. With its historic connection to the ocean, India recognizes the importance of balancing economic growth with environmental preservation.
From the conservation and protection of marine ecosystems to the promotion of sustainable fishing practices, climate change mitigation and adaptation, maritime security, blue innovation, and international cooperation, India’s leadership in the G21 reflects a holistic approach to the blue economy. Through collaboration with other member nations and international organizations, India seeks to pave the way for a more sustainable, prosperous, and resilient blue economy that benefits all. As the G21 takes center stage, the world will be watching India’s continued efforts to champion the cause of our oceans and marine life.
The G20 has offered several initiatives to promote the blue economy, which refers to the sustainable use of ocean resources for economic growth, job creation, and ecosystem health. Some of the initiatives include:
1. Promoting targeted financial instruments such as debt-for-nature swaps, blue bonds, and loans
2. Catalysing financing for the blue economy transition by promoting targeted financial instruments such as debt-for-nature swaps, blue bonds, and loans.
3. Supporting the Sagarmala initiative and the Pradhan Mantri Matsya Sampada Yojana in India’s G20 presidency
4. Discussing the Blue Economy Finance Mechanism and developed countries’ compliance with the 1.5 degree Celsius climate commitment in a working group
5. Accelerating the transition to a sustainable and resilient blue economy through a technical study.
6. Agreeing on the ‘Chennai High Level Principles for a Sustainable and Resilient Blue/Ocean-based Economy’ that promote a sustainable and climate-resilient blue economy.
7. Prioritizing the blue economy as a key area under the Environment and Climate Sustainability Working Group.
8. Promoting the adoption of high-level principles for sustainable and equitable economic development through the ocean and its resources while addressing climate change and other environmental challenges

Overall, the G20 has recognized the potential of the blue economy to drive economic growth and job creation while preserving the health of ocean ecosystems. Through various initiatives, the G20 aims to promote sustainable and resilient blue economies that benefit both people and the planet.

Marex Media