Description

Important Points

Both countries committed to this strategy in order to contribute scientific knowledge and to protect the oceans. On the basis of the rule of law, they strive to ensure that the ocean remains a global common. This agreement was reached during External Affairs Minister S Jaishankar's three-day visit to France. The roadmap's scope will include maritime trade, naval industry, marine technology, fisheries, scientific research, marine eco-tourism, inland waterways, integrated coastal management, and civil maritime cooperation among competent governments. Both nations want to have an annual bilateral conversation on blue economy and ocean governance to exchange perspectives on their goals, encourage continuing and future collaboration, and share best practises.

India-France Cooperation in the Blue Economy

Apart from protecting the environment and coastal and marine biodiversity, India and France want to make blue economy an engine of growth in their respective countries. They stated that fisheries are an important economic sector that plays a critical role in food security and livelihood security, particularly for coastal communities. Demographic, economic, and sociological reasons, they claim, have resulted in increased worldwide demand for marine goods and increased stress on global fish supplies. Both nations will prioritise the blue economy in the growth of their economic relations.

Entrepreneurs in the blue economy can apply for a visa

India and France will encourage relationships between economic players, technopoles, business leaders organisations, and marine clusters in both countries, as well as cross-investment and visas for blue economy entrepreneurs.

What exactly is the Blue Economy?

Gunter Pauli developed the notion of the Blue Economy in his 2010 book "The Blue Economy: 10 Years, 100 Innovations, and 100 Million Jobs." The term "blue economy" refers to the sustainable use of ocean resources for economic growth, ocean ecosystem health, and better livelihoods and job opportunities. It calls for the greening of ocean development techniques in order to protect the ocean's health and increase production.

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