Blue economy essentially refers to the multitude of ocean resources available in the country that can be harnessed to aid the production of goods and services because of its linkages with economic growth, environmental sustainability, and national security.

The blue diplomacy is the new version of the green diplomacy, developed on waters; the blue ocean diplomacy is referred to the trade actions across the world, the commerce which is made with the help of naval fleets, transporting goods and performing services for a large number of seeders.

How blue diplomacy accelerates blue economy

• The time for blue diplomacy, which emphasises maritime security and sustainable harnessing of maritime resources, has arrived. Synergy among diplomats, naval experts, scientists, and industry is needed to realise the potential of India’s blue economy (BE).
• The India-France Roadmap on Blue Economy and Ocean Governance, announced in Paris this February, has increased the salience of oceanic dimensions in India’s diplomatic strategy.
• Sagarmala, the ambitious maritime development programme, continues to be central to the government’s maritime vision since 2015. It encompasses port modernisation, construction of new ports, connectivity enhancement, port-linked industrialisation, and sustainable development of coastal communities, envisioning an investment of about $13.23 billion.
• Small Island Developing States (SIDS) urged special consideration of their challenges to survive and develop through ocean-based economic activities depicted as BE. Soon thereafter, the Indian Ocean Rim Association for Regional Cooperation (IOR-ARC), later renamed the Indian Ocean Rim Association (IORA), began systematically pursuing the cause of BE.
• The Indo-Pacific Oceans Initiative (IPOI), addresses various aspects of BE even though the government did not mention it by name. India has been actively seeking partners to serve as “leads” for specific sectors. The pillars and their leads identified so far are: maritime security (India), maritime ecology (Australia), maritime resources (France and Indonesia), capacity building and resource sharing (lead country pending), disaster risk reduction and management (India), science, technology and academic cooperation (lead pending), and trade, connectivity and maritime transport (Japan).
• BE also figures in bilateral discussions between India and Bangladesh, Sri Lanka and the Maldives.

Way forward

• Blue diplomacy needs several measures. First, the draft policy framework should be elevated to an official policy with a clear focus on strategy and a practical roadmap.
• Second, the conduct of blue diplomacy should actively encompass business and industry, while remaining reliant on the scientific and academic community. India’s green foreign policy should acquire a blue tinge. The ministry of external affairs could do with a centralised BE unit.
• Finally, BE should be brought within the ambit of cooperation among Quad countries, which are equipped with vast oceanic resources.
• Enhanced cooperation in the BE realm will deepen their partnership further.

https://www.hindustantimes.com/opinion/maritime-governance-a-robust-blue-economy-
needs-blue-diplomacy-101651583982685.html

How to structure:
1) Give an intro about Blue diplomacy and Blue economy
2) Briefly mention the main points regarding these two
3) Explain how blue diplomacy accelerates blue economy, with examples
4) Mention challenges faced
5) Way forward