PM Modi Led Cabinet Approves Rs 4,077 Crore 'Deep Ocean Mission' For Exploration Of Oceanic Resources

The Cabinet Committee on Economic Affairs (CCEA), chaired by PM Narendra Modi, has approved the Ministry of Earth Sciences (MoES) proposal on 'Deep Ocean Mission' to explore the deep ocean for resources and develop deep-sea technologies for sustainable use of ocean resources.

The estimated cost of the mission will be Rs 4077 crore for five years to be implemented in a phase-wise manner. The estimated cost for the first phase for three years (2021-2024) would be Rs 2823.4 crore.

Deep Ocean Mission will be a mission mode project to support the Blue Economic Initiatives of India's Government. The Ministry of Earth Sciences (MoES) will be the nodal Ministry implementing this multi-institutional ambitious mission.

The technologies required for deep-sea mining have strategic implications and are not commercially available. Hence, attempts will be made to indigenise technologies by collaborating with leading institutes and private industries. A research vessel for deep ocean exploration would be built in an Indian shipyard.

"This mission is also directed towards capacity development in Marine Biology, which will provide job opportunities in Indian industries. In addition, design, development and fabrication of specialised equipment, ships and setting up of required infrastructure are expected to spur the growth of the Indian industry, especially the MSME and start-ups," CCEA said.