Marine litter: Impeding growth in Indian Blue economy

Abstract

Marine environmental degradation in India has increased with the development process and is suppressing the Indian marine economy raising the need for its containment by governmental interventions that focus on making individuals accountable for their share of pollution. This study focuses on the impact of increasing marine litter on the marine fishing industry in India with the help of the econometric tools of time series analysis and the techniques of regression to project accountability on the consumer by the way of willingness to pay as a price for aggravating marine pollution. Also, using the mathematical concept of calculus, the study builds a basic framework for marine environmental protection. With the help of principles concerning elasticity of demand the study explains that the higher the elasticity of demand for marine products, the lower will be the opportunity cost associated with it which will subsequently lower the money cost on a consumer to abet pollution control.