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1) Discuss the economic importance of Indian ocean region for India.(250 words)

Topic– Distribution of key natural resources across the world (including South Asia and the Indian sub-continent); factors responsible for the location of primary, secondary, and tertiary sector industries in various parts of the world (including India)

1) Discuss the economic importance of Indian ocean region for India.(250 words)

Reference

Directive word

Discuss- this is an all-encompassing directive which mandates us to write in detail about the key demand of the question. we also have to discuss about the related and important aspects of the question in order to bring out a complete picture of the issue in hand.

Key demand of the question.

The question wants us to write in detail about the economic significance of the Indian ocean for India. We have to give a complete picture of the importance of the region.

Structure of the answer

Introduction- write a few introductory lines about the  Indian Ocean Region (IOR). E.g The Indian Ocean basin is of particular importance for India, as the region’s most populous country and geopolitical keystone.

Body-

Discuss in points the economic significance of the IOR for India. E.g

  1. First, it enjoys a privileged location at the crossroads of global trade, connecting the major engines of the international economy in the Northern Atlantic and Asia-Pacific. This is particularly important in an era in which global shipping has burgeoned.
  2. Some 36 million barrels per day—equivalent to about 40 per cent of the world’s oil supply and 64 per cent of oil trade—travel through the entryways into and out of the Indian Ocean, including the Straits of Malacca and Hormuz and the Bab-el-Mandeb
  3. The Ocean’s vast drainage basin is important in its own right, home to some two billion people. This creates opportunities, especially given the high rates of economic growth around the Indian Ocean rim.
  4. The Indian Ocean is rich in natural resources. Forty per cent of the world’s offshore oil production takes place in the Indian Ocean basin.
  5.  Fishing in the Indian Ocean now accounts for almost 15 percent of the world’s total.
  6. Aquaculture in the region has also grown 12-fold since 1980.
  7. Although global fishing is reaching its natural limitations, the Indian Ocean may be able to sustain increases in production.
  8. Mineral resources are equally important, with nodules containing nickel, cobalt, and iron, and massive sulphide deposits of manganese, copper, iron, zinc, silver, and gold present in sizeable quantities on the sea bed.
  9. Indian Ocean coastal sediments are also important sources of titanium, zirconium, tin, zinc, and copper. Additionally, various rare earth elements are present, even if their extraction is not always commercially feasible etc.

Conclusion- based on your discussion, form a fair and a balanced conclusion on the given issue.