Circular Economy Context: At the 2nd Global Seminar on Resource Efficiency and Circular Economy held in New Delhi, the Union Minister emphasized India's shift toward a circular economy model. The Minister highlighted the growing importance of recycling and biotechnology in achieving sustainable industrial growth and reaching the net-zero emissions target by 2070. About Circular Economy A circular economy is an economic system that eliminates waste and pollution by keeping products and materials in use through maintenance, reuse, refurbishment, and recycling. Unlike the linear "take-make-dispose" model, it emphasizes closing the loop, reducing resource extraction, and regenerating natural ecosystems. By 2050, India’s circular economy is expected to achieve a market value of over $2 trillion and generate approximately 10 million jobs. According to the United Nations Development Programme (UNDP), shifting to global circular economy models could yield $4.5 trillion in economic benefits by 2030, while simultaneously reducing carbon emissions and creating sustainable green jobs. India’s key initiatives in Circular Economy Swachh Bharat Mission 2014 (SBM-U): Strengthening urban waste management through the 3R (Reduce, Reuse, Recycle) principles. GOBAR-Dhan Scheme 2018: Creating wealth from waste through biogas and organic waste processing. As of February 2025, the scheme is implemented in 67.8% of India's districts, with 1,008 biogas plants in operation. E-Waste Management Rules (2022): Formalizing the recycling-based disposal of electronic waste. Plastic EPR (Extended Producer Responsibility): Encouraging manufacturers to take responsibility for plastic waste (single-use plastic was banned in 2022). NITI Aayog’s Circular Economy Division (2022) It is a dedicated unit that coordinates between various ministries to finalize action plans for sectors such as e-waste, lithium-ion batteries, and end-of-life vehicles.
INDIAN ECONOMY
Circular Economy Context: Union Home and Cooperation Minister stated that implementing the circular economy model nationwide will increase dairy farmers’ income by 20% over the next five years. About Circular Economy It is a model of production and consumption, which involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products as long as possible. It is a departure from the traditional, linear economic model, which is based on a take-make-consume-throw away pattern. India’s Initiatives: Swachh Bharat Mission, GOBAR-Dhan Scheme, E-Waste Management Rules 2022, Mission LiFE etc. India’s Renewable Energy Growth India has added 31.25 GW of renewable energy in the current financial year, including 28 GW of solar power. India has become a key global contributor to renewable energy, especially solar: Solar capacity grew from 2.8 GW (2014) → 130 GW (2025), a 4,500% increase in 11 years. Between 2022-2024, India contributed 46 GW to global solar additions, becoming the third-largest contributor. Despite being the world’s fifth-largest coal reserve holder and the second-largest consumer of coal, India emphasizes a balanced energy mix.
