FICCI calls for Strong Blue Economy Ties with Pacific Island Nations

FICCI will also sign an MoU with PIDF to strengthen collaboration between India and the Pacific Islands countries

India engages with the Pacific Island Countries on a wide range of issues including climate change. Forum for India Pacific Islands Co-operation (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.

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 potential for economic ties with FIPIC will be explored during

FICCI will sign 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.

Powered by Capital Market - Live News