Why is India taking keen interest in resources of Arctic region?. (UPSC IAS Mains 2018 General Studies Paper – 1)
India has taken a keen interest in the resources of the Arctic region due to a few key factors. Firstly, the Arctic region is believed to contain large reserves of oil, natural gas, and minerals, which are important resources for India’s energy security and economic growth. Additionally, the Arctic region is also believed to contain large amounts of fish and other marine resources, which are important for India’s fishing industry. Secondly, the melting of Arctic ice has opened up new shipping routes, which can potentially reduce shipping costs and transit times for India’s trade with Europe and North America. This could have a positive impact on India’s economy. Finally, India is also interested in the Arctic region for scientific research, as the region is home to unique and fragile ecosystems, and is important for understanding global climate change.
- The Arctic region is believed to contain large reserves of oil, natural gas, and minerals, which are important resources for India’s energy security and economic growth.
- The Arctic region is also believed to contain large amounts of fish and other marine resources, which are important for India’s fishing industry.
- The melting of Arctic ice has opened up new shipping routes, which can potentially reduce shipping costs and transit times for India’s trade with Europe and North America, potentially having a positive impact on India’s economy.
- India is also interested in the Arctic region for scientific research, as the region is home to unique and fragile ecosystems, and is important for understanding global climate change.
- India is also interested in the Arctic region to protect its own interests as it is affected by the changes in the Arctic region and also to secure its strategic interests.
Constituting a dedicated expert committee to plan, monitor, steer, implement and review India’s Arctic policy may help streamline the country’s approach in a better manner.
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