The arduous work of the League of Nations for a decade (1973 to 1982) to finalize the text that contained provisions to protect the larger interests of the developing nations has been realized with the coming into force of the Third United Conference on the Law of the Sea on 16 November, 1994. A brief account of the history and enumeration of the events and articles, is attempted here. Recognizing the need to conform to the international law, being a major role player in the very evolution of the new international order of oceans, India amended its Constitution enacting the Maritime Zones Act, in 1976. Realizing that oceans are the next 'techno-strategic frontier' to Atomic Energy and Space, India developed a large institutional framework and launched various challenging programmes at sea, on par with other leading nations on the oceans. The living and non-living resources potential within the country's maritime zones, are discussed.