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India's rapid economic growth and urbanisation have led to significant challenges, such as resource depletion, environmental degradation, and increased waste generation. To address these pressing issues, India must transition to a Circular Economy. This approach promotes the reuse, remanufacturing, and recycling of products and materials to maintain their highest utility and value. By doing so, it not only reduces environmental impact but also enhances sustainability, economic resilience, and resource security.
The Indian government has taken proactive steps toward this transition, establishing the Circular Economy Cell in NITI Aayog and implementing sector-specific action plans and policies aimed at promoting resource efficiency and sustainable practices. Initiatives such as the Swachh Bharat Mission, Jal Jeevan Mission, and Vehicle Scrapping Policy underscore India's commitment to the Circular Economy principles, focusing on waste reduction, proper disposal, recycling, and sustainable resource management. Unlike traditional recycling efforts, a Circular Economy aims to redesign products for longevity, facilitate reuse and remanufacturing, and establish closed-loop systems to minimise waste and resource extraction.
Our report, 'Envisioning Future of Circular Economy in India' focuses on key sectors — water, metals, and textiles — due to their significant environmental impact, resource intensity, and potential for improvement through the Circular Economy practices. These sectors play a crucial role in India's sustainable development, accounting for substantial resource consumption and waste generation. Transitioning to a Circular Economy is essential for India to achieve sustainable development goals, mitigate environmental challenges, and ensure economic resilience. By implementing visionary goals, robust institutional arrangements, and fostering market sustainability, India can drive transformation across sectors, reduce resource depletion, stimulate innovation, and contribute to a healthier planet and a more resilient economy and #VibrantBharat.