The term ‘Blue economy’ is related to traditional ocean-related economic activities such as fisheries, tourism, transport, and emerging opportunities like renewable energy, aquaculture, seabed extraction, and marine biotechnology. Given the vastness of oceanic resources, the blue economy is anticipated to be the remedy for the economic woes of underdeveloped coastal states. According to Madhushree Chatterjee, Chief of the Natural Resources and Interlinkages Branch of UN DESA’s Division for Sustainable Development Goals, “The Blue Economy comprises a range of economic sectors and related policies that together determine whether the use of ocean resources is sustainable.” According to the World Bank, it is a huge sector worth some $1.5 trillion a year.