Examine economic significance of the resources of the Continental Shelf of the Indian Ocean. (200 Words)
Of all the resources that developing countries in Indian Sub-Continent or Indian ocean Rim are endowed with the continental shelf is the most important role in providing those necessities like:
Economic wealth of the Indian Ocean’s continental wealth includes:
- Oil Fields – This fuel treasure is plenty in the western part that includes red sea, gulf area and coasts of Indonesia. India can also boast of its Aliabet, Bombay High and KG basin for its oil and Gas reserves.
- Placer Deposits – Vitally important, thorium resources in placer sands of Malabar coast are a promise to Nuclear Energy security. Similarly Placers of Thailand, Indo-China and Australia are source of precious heavy metals critically important for Electronics and semiconductors industry.
- Tourism – Coral atolls in itself are endowments of nature to tropical shelves
- Fisheries – Food security of every nation is BIMSTEC is depend on fisheries.
- Marine-Agriculture– Brackish water Agriculture for Rice is successfully practiced now and thus is a remedy for land shortages. Other innovations like oyster farming can add supplementary value to Continental Shelves
- Cyclone Mitigation – Mangroves and other plantation helps in mitigating the ugly consequences of storms and storm surges along the heavily populated coastal areas like Mumbai, Chennai, Kerala coast, Maldives, etc.
No industrial development, no commercial growth, no stable political structure is possible for her unless her shores are protected. In spite of this India‘s economic security demands that all the sea lanes leading to the Indian Ocean, particularly the Suez Canal and the Straits of Malacca are peaceful and economically vibrant.