The Cabinet Committee on Economic Affairs on August 29, 2018 gave its approval for implementation of an umbrella scheme ‘Ocean Services, Technology, Observations, Resources Modelling and Science (O-SMART)’.
The CCEA, chaired by Prime Minister Narendra Modi, approved the scheme for implementation during the period from 2017-18 to 2019-20 at an overall cost of Rs 1623 crore. The scheme covers a total of 16 sub-projects, which address ocean development activities such as services, technology, resources, observations and science.
1. The Ministry of Earth Sciences has proposed to continue the existing schemes for ocean sector in a focused way as a part of the umbrella scheme -O-SMART.
2. India is aiming to create a blue economy for effective and efficient use of the vast ocean resources in a sustainable way, which would require a great deal of information on ocean science, development of technology and providing services.
3. Under the (O-SMART) scheme, the Ministry envisages the continuation of coastal research and marine biodiversity activities, which are important in the context of achieving United Nations Sustainable Development Goal-14 to conserve and sustainably use the oceans, seas and marine resources for sustainable development.
4. The ocean advisory services and technologies being rendered and developed under the scheme will play a significant role in the development activities over dozen sectors, working in the marine environment including the coastal states of India, contributing significantly to the GDP.