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Interest in deep sea mining first appeared in the 1960s, but consistently low prices of mineral resources at the time halted any serious implementation.By the 2000s, the only resource being mined in bulk from the ocean was diamonds, and even then, just a few hundred metres below the surface.2040 India's economy is rivalling that of China and the U. By 2040, rapid economic growth has enabled India to catch up with China and the U. These three countries – the "G3" – now have by far the largest share of world GDP.** India has benefitted from a number of cultural, economic and demographic trends in recent decades.* This includes a youthful, growing and economically productive population,* now the world's largest at 1.6 billion,* with an average age of just 34.By comparison, China's average age is 46 and its working population has been declining.* Expansion and development of India's service sector – adding greatly to the global knowledge-based economy – has occurred in parallel with a slowdown in China's growth as its economy matures.In the past, retrieval operations were limited to manganese nodules (resource-rich rock concretions found on the ocean floor) and metal-rich sediments around hydrothermal vents.Now, thanks to new extraction methods and processing techniques, even the low concentrations of elements found in mud layers are economically viable.
India's currency, the rupee, is now challenging the renminbi as the world's strongest.Large-scale efforts continued to be hindered in the first decades of the 21st century.By 2040, however, advances in robotics and telepresence have led to a fully mature industry – opening up the vast and previously unobtainable wealth of fuel and mineral reserves along the ocean floor.*** Credit: Nautilus Minerals Inc.Due to its global influence and military capabilities, India has also gained a permanent seat on the UN Security Council.Later this decade, on 15th August 2047, the nation will celebrate its 100th anniversary as an independent state.* However, climate change and other ecological impacts are converging with increasing speed.