Great potential for Indian industry to develop Blue Economy linkages with Pacific Island countries, according to preliminary findings said FICCI Task Force. FICCI has also signed an MoU with Pacific Islands Development Forum to strengthen collaboration between India and the Pacific Island countries
To promote India’s connect with Pacific Islands on Blue Economy, FICCI in partnership with PIDF organised Blue Economy sessions at the India-Pacific Islands Sustainable Development Conference – – Furthering the FIPIC Agenda through Sustainability Initiatives scheduled from 25–26 May, 2017 in Suva, Fiji.
The ‘India-Pacific Islands Sustainable Development Conference’ was hosted by the Ministry of External Affairs in Suva, Fiji from 25 to 26 May, 2017. The conference was held under the framework of the Forum for India Pacific Islands Co-operation (FIPIC).
India engages with the Pacific Island Countries on a wide range of issues including climate change. FIPIC was formed in November 2014, to strengthen India’s relationship with the Pacific Island Countries. The first FIPIC summit was held at the level of Heads of Government in November 2014 in Suva, Fiji, followed by the FIPIC-II summit held in August 2015, in Jaipur, India.
Blue Economy has increasingly occupied a central place in international discourse on oceanic affairs.
“Blue Economy needs to secure sustainable management and protection of marine and coastal ecosystems, while achieving inclusive economic growth”, said Ambassador Anup Mudgal, Member, FICCI Task Force on Blue Economy & Former Indian High Commissioner to Mauritius. Amb Mudgal shall be Chairing the sessions during the Conference.
There is a need for these island nations a balanced approach, combining imperatives for growth and sustainability. The focus of the sessions would be to stress on the value of Public-Private Partnership for generating additional investment, deploying technology for optimal development of Blue Economic opportunities for India Inc and its international partners and capacity building including MSME development, education and a skills repository.
Following Hon’ble PM Shri Narendra Modi’s policy initiative ‘SAGAR’ – Security and Growth for All in the Region, FICCI has created a Special Task Force on Blue Economy to explore India’s business engagement with ocean neighbours.
The Task Force has had several stakeholder consultations throughout India, especially coastal areas to understand the economic potential of Blue Economy. The findings of the Task Force encapsulated in a recently released study titled “Blue Economy-Vision 2025 – Harnessing Business Potential for India Inc and International Partners has been shared with the Indian Ocean Rim Region during the Ministerial Conference on Blue Economy held in Jakarta earlier this month.
The potential for economic ties with FIPIC will be explored during this Conference starting tomorrow.
Minister of State for External Affairs, Gen.(Dr.) V K Singh (Retd.) hosted Ministers from the 14 Pacific Island countries at the Conference. Various heads of States, Ministers from Pacific Island Countries have participated in the Conference. Business leaders, academics, civil society members and youth from the region would participate in the Conference.
FICCI has also signed a Memorandum of Understanding (MoU) with Pacific Islands Development Forum (PIDF). PIDF is Pacific’s first and truly representative and participatory platform with a mission to enable Green–Blue Pacific economies through inclusive strategies, multi-stakeholder governance, and genuine partnerships. The MoU aims to strengthen India’s economic and strategic engagement with the Pacific Islands countries and promote trade and investment relations, exchange of information, cooperate in identifying and discussing areas with export/import potential amongst many others.