Formalizing India’s Blue Economy: Strategic Interventions under PM-MKSSY

A significant component of this initiative is the emphasis on supply-chain traceability. In an era where global markets demand high standards of food safety and sustainability, traceability ensures that Indian aquatic products meet international quality benchmarks. This not only enhances the export potential of Indian seafood but also ensures better price realization for the primary producers. By leveraging digital infrastructure to track produce from 'pond to plate,' the government is fostering transparency and accountability within the value chain. For the Indian economy, this formalization is essential for achieving the 'Blue Revolution' targets. It aligns with the broader goal of doubling fishers' incomes and ensuring the sustainable management of India's vast aquatic resources. As the scheme progresses through its final year of the current cycle, its success will be measured by the extent to which it integrates marginalized fishers into the formal banking and insurance fold, ultimately creating a more resilient and competitive fisheries industry. UPSC Relevance: This topic is highly relevant for GS Paper III under 'Indian Economy' and 'Government policies and interventions.' Aspirants should focus on how the formalization of the primary sector contributes to inclusive growth and how supply-chain traceability addresses both domestic food security and international trade standards.