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India and Norway to work on the recovery of the Indian economy

 


Now that the second wave of COVID19 is receding in India. Norway has planned to work towards the economic growth of India in sustainable growth. As per the latest economy news of the Hindustan Times, this positive growth would take place keeping in mind the blue economy.  The 'Blue Economy' is an emerging concept that encourages better stewardship of our ocean or 'blue' resources. 


The major challenge that Indians faced was the loss of employment and livelihood that is pretty much obvious. This blue economy has a great potential to generate employment in India. Another benefit is that India’s economy will show signs of improvement. India has a 7,517 km long coastline which makes it a nation that can have sustainable growth and use the existing resources to the fullest. This growth can be beneficial as it will be environmentally justified. 


The new research was sent by the high-level panel for sustainable ocean effectiveness that was co-chaired by the Prime Minister of Norway himself shows that every dollar that is invested in this arena yield five times in return. Major ocean activities include- increasing sustainable seafood production, decarbonizing international ships, increasing offshore wind power.


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