Valuation of Coastal Resources: The Case of Mangroves in Gujarat

National income statistics, which form the basis for measuring and monitoring the performance of an economy, do not include environmental resources adequately, with the result that they fail to provide the required inputs for the formulation of sound economic policies, particularly in the context of sustainable development. Coastal resources are important in a country like India, which is surrounded by sea from three sides, and mangroves, the salt tolerant forest ecosystem that is one of the richest ecosystems in the world, provides a wide range of ecological and economic products and services, including carbon sequestration and protection to life and property under severe cyclones and tsunamis. However, mangroves are neglected, as their value is not incorporated in the national income data. The present study, which is a methodological study, compiles economic value of mangroves in India and shows that this rich ecosystem contributes significantly to the economy, and it needs to be strengthened in order to promote sustainable development of coastal regions and to protect coastal population from cyclones and tsunamis.