Aarav (Akshay Kumar) runs a fishing company in the Bahamas, in which Sethji (Sanjay Dutt) is a diver. While Aarav is din well for himself, Sethji is under a financial
crisis.To help him, Aarav advises Sethji to retrieve the lost treasure of a sunken ship called lady in Blue. However, Sethji refuses to go to the ship as he has a haunted past with the ship..
Blue is set in the breath taking sun soaked white sand beaches of Bahamas. Sagar is an excellent deep sea diver who dreams of getting his own new boat someday while his friend Aarav is a rich arrogant businessman, whose ego is much larger than the big boats that he owns. The conflict between these two sparring friends is the conflict between the rich & the poor, Moral & Immoral, and greed & honor.