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Monthly Economic Digest 21.2

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Monthly Economic Digest 21.2 u2 March 2019 MEDC Economic Digest MEDC Governing Board From the President’s Desk MEDC President: Dear Members, Mr. Ravindra Boratkar Managing Director, MM Activ It is with great pleasure that I invite all Sci - Tech Communications Pvt. Ltd. of you to join us for the nation's first MEDC Vice Presidents : ever conclave on the blue economy of Mrs. Meenal Mohadikar India, which will be held from February CEO, Anand Trade Development 26 to 28, 2019 in Navi Mumbai. This Service mega-event is being jointly hosted by Mr. Chandrakant Sadadekar the MEDC and the Federation of Indian Chambers of Chairman, Commerce (FICCI) under the leadership of Shri Nitin Gadkari, Sadadekar Global Group Hon'ble Union Minister for Shipping and Water Resources, and Export-Import Shri Devendra Fadnavis, Hon'ble Chief Minister of Mr. Mukund Kulkarni Maharashtra, with the sole intent of promoting awareness about Director, Expert Global Solutions the massive latent potential of the blue economy. Pvt. Ltd. Both the state and central governments are playing an important MEDC Immediate Past-Presidents: role in the development of the blue economy. As you are Cdr. Dipak Naik probably aware, in the recent Budget, the government proposed President & CEO, Naik Environment to create a separate department for Fisheries and provide a 2% Research Institute Ltd. (NERIL) interest subvention on loans to fish farmers. This move is likely to boost seafood export and it forms an integral part of the Mr. Nandkishor Kagliwal Chairman, Nath Group growth strategy for the blue sector. Shri Gadkari has said that the blue economy is a critical component of India's economic development agenda, and his actions have always backed his words. He is responsible for promoting blue growth through various innovative initiatives like the development of port Printed, Published & Edited by infrastructure, inland waterways, the starting of cruise terminals, Ms. Ananya Prem Nath on behalf of and the ambitious Sagarmala project which is poised to Maharashtra Economic revolutionize maritime logistics and port-led development in Development Council (MEDC) and India. Shri Fadnavis has laid emphasis on an integrated Printed at Onlooker Press, 16, development of minor ports in Maharashtra along with Sassoon Dock, Colaba, providing impetus for promoting industries along its 720 km Mumbai - 400 005 and Published coastline. The Maharashtra Maritime Board is also planning to from Maharashtra Economic invest on the development of some minor port sites depending Developement Council, Y. B. Chavan Centre, 3rd Floor, Gen. J. Bhosale on the traffic flow.This will provide the opportunity for balanced Marg, Nariman Point, development along the coast, since these ports stretch all the way Mumbai - 400 021. from the northern to the southern part of the state. All these are welcome signs of the importance the government is now attaching to nurturing the blue economy. MEDC Economic Digest March 2019 u3 Maharashtra has a long coastline and the blue economy approach anticipates and incorporates the effect of climate change on marine and coastal ecosystems. Climate change is a serious issue to tackle, especially in the coastal areas. Thanks to scientific advancements, the understanding of these unpredictable impacts is constantly improving and, in the long run, it will prove to be of particular benefit to the large fishing community of Maharashtra, which continues to depend on the weather and the sea-levels for deciding the best time for their professional activities. It will also educate and sensitize them regarding the impact of their industry on the fragile marine and coastal ecosystems. Realizing the full potential of the blue economy requires the effective inclusion and active participation of many diverse social groups, including women, youth, local communities, indigenous tribes, and marginalized or underrepresented people. In this context, much of traditional knowledge and local practices can also provide culturally appropriate approaches for promoting blue growth while simultaneously supporting improved governance. I am proud to say that amongst all coastal states, it is Maharashtra that is taking the lead in blue economy initiatives. I look forward to your proactive participation in this conclave, which will enrich it considerably. u4 March 2019 MEDC Economic Digest FTPROM HE RESIDENT ’D03 S ESK llSFPECIAL EATURE Norway - India Blue Economic Relations 7 llCSOVER TORY Vol.I No.7 March 2019 Vol.I Number of Total Cargo Percentage of Percentage of Estimated number Estimated total Securing India's Maritime Interests Vessels which handled in total cargo total cargo of vessels which number of vessels sailed out from Indian Ports handled by major handled by sailed out of non - which sailed out and Harnessing the Blue Economy Major Ports ports other ports major port based of Indian ports - Admr. R. K. Dhowan, on cargo handled Chairman, NMF 11 21500 1100 57% 43% 16000 37500 Million MT Table 1: Estimation of Vessels which sailed out of Indian Ports in 2016-2017 Source: Basic Port Statistics of India, 2016 -2017; Transport Research Wing, Ministry of Shipping, GOI; http://shipmin.gov.in/showfile.php?lid=2687 Blue Economy and Indian Maritime Landscape - Dr. Malini Shankar 17 Maritime Capacity Building : A Blue Economy Imperative for India - Commodore Anil Jai Singh 26 A BLUE BREXIT - Harnessing the Blue Economy in times of radical socio-political change - Mr. Mihir Joshi 34 Canal Navigation Article -4Cdr. Dipak Naik 2 ONTEGas Hydrates: T Promising s s Surplus producon Unconventional Energy Resource (Natural capital) (Benefits to business & society) (Provisioning services) Of The Coastal Environment. - Dr. N. Satyavani 49 CN MEDC Economic Digest March 2019 u5 Blue economy opportunities from marine capture fisheries - Dr. E. Vivekanandan 54 Mariculture: a sustainable and lucrative alternative for open access fishery - Dr. Kiran Kumar R Patil 62 OTEC-Desalination Using LTTD: A Sustainable Option - Cdr (Dr) Nitin Agarwala 66 Participatory Approaches to Water Management MEDC Economic Digest - Mr. S. N. Patankar 75 Editorial Board Interim Chairman World Bank – Blue Bond 82 Mr. Ravindra Boratkar Editor Development of Ports in India - New Ms. Ananya Prem Nath Initiatives for capacity additions and Senior Manager - Research & Training Improving operational efficiency - Dr. S D Naik 84 Editorial Advisers: Cdr. Dipak Naik, Immediate Past President, MEDC Dr. Prakash Hebalkar, President, ProfiTech Dr. Dhananjay Samant, Chief Economic Adviser, MEDC Address: MEDC Research Centre, 3rd Floor, Y.B. Chavan Centre, Nariman Point, Mumbai - 400 021. Tel.: +91 22 2284 2206/09 Fax : 22846394 Email: [email protected] Website: www.medcindia.com u6 March 2019 MEDC Economic Digest Special Feature Norway - India Blue Economic Relations Norwegian Consulate General, Mumbai [email protected] The ocean-based industries promoting cooperation in the - Life below water, was in could outperform the growth development of blue economy. January 2018 initiated by the rate of the global economy by The visit also served to Norwegian prime minister the end of 2030 (OECD, 2018). promote shared efforts to (Norwegian Government, The blue economy is expected achieve the green transition and 2018a). Norway will host the to play a central role in creating work towards realizing annual international “Our a sustainable world economy sustainable development goals. Oceans Conference” in with enough food and energy PM Solberg was accompanied October 2019. by a large business delegation for the world's growing Emerging India population. However, the of Norwegian companies resources of the ocean must be which signed a number of India's economy is emerging at managed in a sustainable MoUs with Indian partners astonishing rates. The growth manner. within the blue economy space has mainly come from land- in areas such as sustainable based activities even though The Prime Minister's Visit coastal transport, ship vast opportunities and recycling, renewable energy, potential lie in the surrounding offshore wind and LNG oceans. The Indian Ocean is a supplies to name a few. source of food and energy for The sea nation Norway India's growing population. Norway is a sea nation, with Blue economic relations large parts of its economy Norway's global commitment stemming from ocean sectors. to the oceans also attests to Norwegian Prime Minister As the oceans are all connected, Erna Solberg paid an official Norway's interests in creating global and regional cooperation visit to India from 7-9 January, lasting blue relations with India. is essential to assure sustainable 2019 at the invitation of Indian During the Stockholm Summit use of the ocean resources. It is Prime Minister Mr Narendra in April 2018, the Prime in Norway's interests to help Modi. The meeting between Minister of India and Norway, facilitate sustainable ocean PM Solberg and PM Modi in Narendra Modi and Erna based growth globally New Delhi was between two Solberg, showed interest in leaders of maritime nations. (Norwegian Ministry of increased cooperation between The highlight of PM Solberg's Foreign affairs, 2017). the countries. Reaching the visit was the signing of a An international high-level Sustainable Development memorandum of panel with the aim of providing Goals through clean understanding (MoU) on an concrete contributions to technology was an important “ocean dialogue" between the achieve the Sustainable topic during their discussions, two countries aimed at Development Goal number 14 and building blue economies MEDC
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