Circular economy need of the hour for Atma Nirbhar India

The key to an Atma nirbhar Bharat (self-reliant India) is sustainable growth. The need of the hour is a development model that leads to the optimum utilization of resources. With a growing population, rapid urbanization, climate change and environmental pollution, India must move towards a circular economy, say experts. The economic benefits for a circular economy too are very promising. Experts like G-20 Sherpa Amitabh Kant have pegged over USD 2 trillion in market value for the transition from the current linear model to a sustainable circular one, along with creation of 10 million jobs by 2050.

Circular economy is an economic approach aimed at eliminating waste and the continual use of resources, which emphasizes on the need to take a comprehensive view of products and processes. A circular economy path adopted by India could bring in substantial annual benefits, along with significant reduction in congestion and pollution. Our ability to maximize our resource efficiency and minimize the consumption of finite resources will spur our transition towards self-reliance, experts believe. This is in line with the sustainable development goals (SDGs) India under the Modi government has presented to the UN, and also its aim of achieving the net-zero economy by 2070. The country’s natural resources are being depleted at an unsustainable pace, generating massive amounts of waste. India is generating close to 1.6 lakh tonnes of municipal solid waste per day. Experts have said this underscores the urgency to move towards a model that decouples economic growth from resource extraction.

The Government has notified various rules, such as the Plastic Waste Management Rules, e-Waste Management Rules, Construction and Demolition Waste Management Rules, Metals Recycling Policy, to drive the country towards a circular economy. Government think tank NITI Aayog too has undertaken several initiatives to ensure sustainable economic growth. It addressed the challenges in the utilization of waste as a resource and to evolve a perspective on the recycling industry in India. To expedite the transition of the country from a linear (current economic model where there is more than optimum usage of resources and considerable generation of waste) to a circular economy, 11 committees have been formed to be led by the concerned ministries , NITI Aayog, domain experts, academics and industry representatives. With only 2% of the world’s landmass and 4% of freshwater resources, a linear economy model of ‘Take-Make-Dispose’ would constrain India’s overall economy.

India’s transition to a circular economy holds immense potential for creating circular jobs and driving sustainable economic growth. According to a report by the World Economic Forum, up to 50 million jobs can be generated with a projected economic impact of $15 trillion. India’s e-commerce market which is expected to reach $350 billion by 2030 has started building the market for what they believe is the next big thing: waste commerce. It will be impossible to live in India, unless we think beyond the normal economic processes. Circular economy offers a really compelling solution to the dilemma that India is facing due to rapid urbanisation, population growth and industrialisation by keeping resources in use for as long as possible , regenerating natural systems, reusing , and recycling it as much as possible.