Blue Economy promotes sustainable use of marine, freshwater resources: CAG

New Delhi [India], February 27 : The Comptroller and Auditor General of India (CAG) hosted a seminar on the challenges and opportunities in the Blue Economy at the CAG Office in New Delhi on Monday.
The seminar was held in the run-up to the Engagement Group Meet of SAI 20 Nations next month, being organised as part of the G20 presidency of India.
With India assuming the Presidency of the G20 in 2022-2023, the Comptroller and Auditor General of India (CAG) holds the chair for SAI20.
In line with the Indian theme of the G20 Presidency- "Vasudhaiva Kutumbakam" or "One Earth. One Family. One Future", the CAG has selected two priority areas viz 'Blue Economy' and 'Responsible AI' for deliberations.
Highlighting the importance of the blue economy, Girish Chandra Murmu, CAG of India, said that the blue economy economic system promotes the sustainable use of marine and freshwater resources while conserving their environments. It encompasses policies and operational dimensions aimed at producing food and energy, supporting livelihoods, and driving economic advancement and welfare.
Murmu highlighted that while there were audit criteria and frameworks for auditing sub-sectors, such as, marine fisheries, coastal eco-system, aquaculture, coastal and marine tourism, biotechnology from marine resources and extraction of sea-bed mineral resources, integrating them into a single auditing framework would be key to all Supreme Audit Institutions, including the SAI20 Engagement group.
Murmu emphasized that SAIs could strive to scale up their efforts, develop study papers on the condition of the Blue Economy and make recommendations on how the governments could direct their efforts and policies for the sustainable development of the Blue Economy of their nations.
Avinash Mishra, Advisor, NITI Aayog, stated that the "Blue Economy plays a vital role in the Indian economic system. It has great potential and we need to pay greater attention to it."
Chair of Federation of Indian Chambers of Commerce and Industry (FICCI) Task Force on Blue Economy Ambassador Rajiv Bhatia said: "The subject of Blue Economy has a place for all of us - scientists, technologists, diplomats, business and policy-makers and the thinktank community. By nature, it is a multi-dimensional, multidisciplinary subject." He stressed on the importance of maritime and naval security, saying "without it, we cannot think of stabler development."

Lead Environmental Specialist at World Bank Tapas Paul said three areas - technology, programme and policies -will determine whether the blue economy is sustainable. He also highlighted the importance of gender equity in India's emerging Blue economy planning.
National Centre for Sustainable Coastal Management Director Purvaja Ramachandran said that seven priority areas were identified in India's draft for the Blue economy. She was optimistic that India would adapt and adopt the UNESCO-IOC guidelines and the national coastal mission would be integrated with the blue economic activities shortly.

Director, Bay of Bengal Project P Krishnan spoke about harnessing of biotic resources. He stressed that the fisheries sector is a highly connected sector and is the central theme of the Blue Economy.

Prof SK Mohanty, Research and Information System for Developing countries, stated that Blue Economy is the fastest growing economy than other sectors and stressed the need for publishing reports on Blue Economy and organizing discussion to create awareness about the sector.