Minister of State for External Affairs M J Akbar said that India seeks an integrated future for the Indian Ocean region through the development of a "Blue Economy" and called for inter-governmental cooperation for financing it.
Addressing a ministerial-level conference at the Second Indian Ocean Rim Association (IORA) meeting on Blue Economy in Indonesian capital Jakarta, he said the sustained economic growth across the Indian Ocean is proof that the world's economic engines are purring to a new tune in the 21st century.
He, however, said shared prosperity demands shared security. "Security is best protected by the rule of law, and we must all honour the international laws that govern maritime behaviour, in both letter and spirit. No one can be above the law."
"The oceans have no walls. Let us make blue the colour of peace and prosperity" he said, adding, "we must give the Indian Ocean a modern purpose, to make it a central space in the geo-economics of the 21st century."
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His comments significance amid China flexing its military might in the South China Sea region.
Elaborating India's Indian Ocean outreach programme named 'Sagar', he said India seeks a future for the Indian Ocean that provides security and growth for all in the region.
For India, he said, the most important aspect of the Blue Economy is that this should serve the poor. "Our goal is not just poverty alleviation, it is poverty elimination."
"The great sea powers of the past understood that responsible utilisation was the key to the common good. The oceans have no walls. Let us make Blue the colour of peace and shared prosperity," he said.
"Financing of Blue Economy initiatives will require inter-governmental cooperation within each of our states, augmented by international co-operation, in technology transfer, capacity building or sharing of assets," he said.