Parrikar was addressing the inaugural session of a three-day conference on maritime security, organised by Forum for Integrated National Security (FINS), here.
Union Minister of State for External Affairs M J Akbar was also present at the conference.
"The strategies about ocean need to be properly evolved in correlation with many other countries which have common interest in the ocean and the trade. And this needs to be evolved over a period of time," Parrikar said.
The trade through the Indian Ocean is safer now as we have managed to curb piracy, he said.
Though there were no recent reports of pirate attacks, "you cannot completely ignore the threat", he added.
"When I was thinking about the security strategies, I realised that ocean has much more problem than we think," the former defence minister said.
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