Active Stocks
Fri Sep 22 2023 13:29:39
  1. Tata Steel share price
  2. 127.75 -0.04%
  1. State Bank Of India share price
  2. 598.4 1.72%
  1. HDFC Bank share price
  2. 1,541.35 -0.79%
  1. Power Grid Corporation Of India share price
  2. 197 -2.38%
  1. Infosys share price
  2. 1,502.55 0.05%
Business News/ News / India/  Deep ocean mission to drive growth of ‘Blue Economy’: Jitendra Singh

NEW DELHI : “Blue Economy" will play a significant role in building India’s overall economy in the years to come, with the Deep Ocean Mission at its core, said Union Minister Jitendra Singh on Wednesday.

Speaking at the first-ever high-level Steering Committee Meeting of Deep Ocean Mission, Singh said the mission is part of the government’s Blue Economy initiative and will aid India’s efforts to attain the Blue Economy status.

The Deep Ocean Mission is a high-level multi-ministerial, multi-disciplinary program for better understanding of the deep sea living and non-living resources of the Indian Ocean.

Singh, who chaired the meeting, further added that the technologies developed under the mission would help explore the oceans and harness non-living resources like energy, fresh water, and strategic minerals.

“The design and development of subsystems of the manned submersible to carry three humans has been completed and integration is in progress," Singh said. He also mentioned that the design of the mining machine is ready, and a demonstration trial of mining crawler on sea bed has been completed in stage 1.

In addition, Singh highlighted that the exploration of strategic minerals such as cobalt, nickel, copper, and manganese are expected to pave the way for future commercial exploitation of these resources.

The Deep Ocean Mission was sanctioned in September 2021, with an estimated cost of INR 4047 Cr for five years and six themes. The mission consists of developing technology for deep sea mining, manned submersible, and underwater robotics, ocean and climate change advisory services, technology innovations for exploration and conservation of deep sea biodiversity, deep ocean survey and exploration, energy and freshwater from the ocean, and advanced marine station for Ocean Biology.

The meeting was attended by several Union Ministers of State, including those of environment, external affairs, defence, and finance, in addition to the Vice Chairman of NITI Aayog and other senior officers from various ministries.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Updated: 10 May 2023, 08:27 PM IST
Next Story
Recommended For You
Switch to the Mint app for fast and personalized news - Get App