“To me, the Blue Chakra or the wheel in India’s national flag represents the potential of the blue revolution or the ocean economy. That is how central the ocean economy is to us”, said by PM Modi in the policy framework of India’s Blue Economy.
India is amongst those few nations that perform dedicated ocean studies and missions. Strengthening the nation’s grip in the ocean region, India has embarked on a historic decision.
The Cabinet Committee on Economic Affairs has approved the proposal of the Ministry of Earth Sciences on the “Deep Ocean Mission”. The decision aims to explore the deep ocean for resources and develop deep-sea technologies for sustainable use of ocean resources. This mission mode project is expected to support the blue economy initiatives of the government and the project has been granted Rs. 4077 crore for 5 years. In the initial phase, the estimated cost would be Rs 2823.4 crore.
It is important to understand that oceans cover 70 percent of the globe and about 95 percent of the deep ocean still remains unexplored.
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