India Applies To ISBA For Seabed Mining In Indian Ocean

  • Union Minister Dr. Jitendra Singh announced that India’s Blue Economy resources are now recognized globally.
    • The International Seabed Authority (ISA) has officially designated India as a “Pioneer Investor” under Prime Minister Shri Narendra Modi’s leadership.
    • The ISA and Ministry of Earth Sciences exchanged a PMN (Polymetallic Nodules) exploration extension contract, which was initially signed in 2002 for 15 years and extended twice for 5 years in 2017 and 2022.
    • Dr. Singh welcomed the delegation and highlighted India’s role as a stakeholder and contributor in exploring and utilizing sea resources.
    • The Deep-Sea Mission, under PM Modi, has been a prime project, with an allocation of Rs 600 crore for the mission.
    • The Blue Economy in India is a key part of the country’s long-term strategy to support sustainable growth in the marine and maritime sectors.
    • The Ministry of Earth Sciences is conducting a PMN exploration program covering components like Survey & Exploration, Environmental Impact Assessment, Technology Development (Mining), and Technology Development (Extractive Metallurgy).

 

Posted in Current Affairs.