Economy
One of the first trading ventures along the Bay of Bengal was The Company of Merchants of London Trading into the East Indies more commonly referred to as British East India Company. Gopalpur was one of their main trading centers. Other trading companies along the Bay of Bengal shorelines were English East India Company and French East India Company.
BIMSTEC Bay of Bengal Initiative for MultiSectoral Technical and Economic Cooperation (BIMSTEC) supports free trade internationally around the Bay of Bengal between Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand.
The Sethusamudram Shipping Canal Project is a new venture proposed which would create a channel for a shipping route to link the Gulf of Mannar with the Bay of Bengal. This would connect India east to west without the necessity of going around Sri Lanka.
Thoni and catamaran fishing boats of fishing villages thrive along the Bay of Bengal shorelines. Fishermen can catch between 26 and 44 species of marine fish. In one year, the average catch is 2 million tons of fish from the Bay of Bengal alone.
Read more about this topic: Bay Of Bengal
Famous quotes containing the word economy:
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
—Jane Jacobs (b. 1916)
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)