India an observer state in Arctic Council, since 2013

 Arctic Council, an intergovernmental forum for cooperation and development aspect of Arctic.

It consist of 8 Arctic States, 6 Permanent Participants ( representing indigenous groups), working groups and Observer States. Source

About Arctic

Home to 40 different indigenous groups, whose economic, cultural and way of life is in danger of being swept away. Increasing Human encroachment will also upset the region.

Large parts of it are under the sovereignty of the 5 Littoral states — Russia, Canada, Norway, Denmark (Greenland) and the US

Issues

Navigation conditions are dangerous and restricted to the summer. Lack of deep-water ports, a need for ice-breakers, shortage of workers trained for polar conditions, and high insurance costs add to the difficulties. Mining and deep-sea drilling carry massive costs and environmental risks.

Unlike Antarctica, Arctic isn't a global common and there is no overarching treaty that governs it, only the UN Convention of Law of the Sea(UNCLOS). 

Commercial Importance of the Region

  • Oil and natural gas deposits, estimated 22% of the world's unexplored Resources, mostly in Arctic Ocean.
  • huge commercial opportunities for shipping, fisheries, along with energy and minerals. 
  • Mineral deposits including 25% of global reserve of rare earth buried in Greenland

Threats

The phenomenally rich biodiversity of the Arctic region is under serious threat. Habitat loss and degradation, the absence of year-long ice and higher temperatures are making the survival of Arctic marine life, plants and birds difficult while encouraging species from lower latitudes to move north. Human Encroachment.



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