On the occasion of World Environment Day, Techno India University, West Bengal, in association with the Millennium Institute of Energy & Environment Management (MIEEM), Indian Institute of Materials Management (IIMM), Centre for Research in Materials Management (CRIMM), and the Federation of Small and Medium Industries (FOSMI), convened the Global Summit on “Wealth from the Blue: Opportunities and Challenges” — a landmark event to spotlight the promise and responsibility of the Blue Economy.
Held at the Techno India University campus in Kolkata, the summit attracted national and international dignitaries, academic leaders, policy influencers, and industry experts for a multi-disciplinary dialogue on sustainable ocean resource utilization and its economic potential. The event marked a historic moment with the launch of the Centre of Excellence on Blue Economy, envisioned as a national leader in fostering innovation, research, and collaboration across the aquatic economy spectrum. The inaugural session began with a welcome address and ceremonial lamp lighting was graced by Prof. Manoshi Roy Chowdhury, Co-Chairperson of Techno India Group, who inaugurated the event and unveiled the digital plaque for the Centre of Excellence.
“We are proud to set up such a Centre of Excellence on the auspicious occasion of World Environment Day. It is a step toward securing a sustainable future by responsibly harnessing the vast, untapped potential of our blue resources,” said Prof. Manoshi Roy Chowdhury, Co-Chairperson of Techno India Group.
The summit focused on examining the vast economic and ecological potential of the Blue Economy as a driver of sustainable development. It explored technological innovations and entrepreneurial ventures that could unlock new markets while addressing pressing environmental and regulatory challenges in ocean-based industries. The summit also aimed to lay the foundation for global and regional partnerships that would facilitate long-term research, capacity building, and knowledge sharing.
The event was enriched by the participation of several distinguished speakers such as Prof. (Dr.) Basab Chakraborty, Managing Director of STEP, IIT Kharagpur, highlighted the importance of linking academic research with industrial innovation and emphasized how Techno India University’s incubation hub at IIT Kharagpur would work in synergy with the newly launched Centre of Excellence. Mr. Goutam Mohan Chakrabarti, IPS (Retd.), and Senior Vice President of Reliance Industries Ltd., spoke on the role of governance and public-private partnerships in advancing blue economy initiatives. Mr. Lalit Raj Meena, National President of IIMM, addressed the need for efficient logistics and material management in marine industries. Shri Gautam Ray, Vice President of FOSMI, advocated for the inclusion of SMEs to democratize innovation at the grassroots level. Mr Lalit Raj Meena ,National President, IIMM brought a global business perspective, while Prof. (Dr.) M. Satish Kumar of Queen’s University Belfast stressed the importance of international collaboration and interdisciplinary research for sustainable ocean governance.
“I am extremely happy to note how the summit collaborators have all synergised for a common cause of Blue Ocean Strategy opposed to Red Ocean Strategy to save mankind from the impending disaster. This summit stands as a beacon of hope, demonstrating how innovation can lead to holistic and sustainable market opportunities,” said Prof. (Dr.) Goutam Sengupta, Rector of Techno India University.
The Centre of Excellence on Blue Economy, launched during the summit, will serve as a pivotal hub for promoting sustainable practices, supporting the development of environment-friendly marine technologies, and facilitating cutting-edge research in areas such as marine biotechnology, ocean renewable energy, aquaculture, and blue carbon. It will also focus on capacity building through specialized training, certification programs, and collaborative platforms for students, professionals, and policymakers. Furthermore, the Centre aims to establish strategic partnerships with national and international stakeholders to co-develop and scale sustainable innovations globally.
The summit concluded with several strategic outcomes. These included the formation of working committees dedicated to thematic areas such as Marine Energy, Coastal Resilience, Blue Innovation, and Sustainable Shipping. There was a collective commitment to host annual blue economy conferences at Techno India University, aimed at drawing participation from global academic, policy, and industrial leaders. Proposals were made for student fellowships, internships, and innovation grants to encourage active youth engagement in the field. A white paper summarizing the summit’s deliberations will be submitted to national and international policy bodies, and a roadmap has been laid out for collaboration with universities and institutions across Europe, Asia-Pacific, and Africa.
The Global Summit on “Wealth from the Blue: Opportunities and Challenges” marked a significant milestone in India’s pursuit of a sustainable blue economy. Hosted on World Environment Day, it emphasized the critical connection between environmental stewardship and economic development. With the establishment of the Centre of Excellence at Techno India University and a strong commitment to research, policy engagement, and global cooperation, a clear message has been sent — that the blue economy is not only a vast opportunity but also a shared responsibility.