Indian Ocean is the third largest ocean in the world surrounded by India, Africa and South East Asian countries from three sides.
Location of Indian Ocean (IO) faster various opportunities related to-
- Economic opportunity
Economic opportunities for Indian –
- It provides trade route from European and Middle East Countries via strait of Hormuz, sus canal and cape of good hope.
- Pipeline grid for oil transport in IO.
- Home of 2 billion people gives opportunity and high Economic growth in the region.
- Rich in natural resources for oil production and polemically nodules research in operation.
- Fishing provide employment and food security for regional population.
- Large coastline (7500 km) provides an upper hand for India in field of Blue Economy
- Coral Reefs and Islands bring tourism and along with that employment for local people
- Sustainable energy projects can be implemented like tidal energy and offshore wind energy.
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Development so far-
- India endorses the growth of the Blue Economy in a sustainable and include manner through the framework of IORA (Indian Ocean Rim Association)
- Sagarmala program for development of parts
- Regulation in Coastal Economic Zone Rules to enhance Economic Activities
- Maritime Military exercises like ‘Varna’ with USA to counter China’s BRI project and it’s presence in IO.
- Development of chabahar Port to cut off Pakistan from the path of Economic Development in countries of Middle East and Afghanistan.
Steps for future
- Strong partnership with the regional countries
- Deep Sea exploration
- Sustainable Agriculture
- Disaster resilient ports and economic hotspots in coastal region.
- Use of soft diplomacy to bolster Economic Development with neighbouring countries
- Promoting connectivity by developing transit consider between India and African countries, European countries and countries of Pacific Ocean via strait of Malacca.
Thus, having such an important geographical Location, India has its own Economic and geopolitical benefit. The need is to harness this opportunity with responsibility and follow SDG 24 and 17 for sustainability in the region.