Modi wants to develop India’s circular economy

28 February 2024 15:48

GBI

New Delhi - With India forecast to generate more waste in the future, the country must develop circular economic strategies to recycle and reuse those materials, Prime Minister Modi wrote on his website. Building this capacity will help the country’s circular economy grow to $2 trillion by 2050, including almost 10 million jobs.

India has no choice but to develop circular economies to manage its waste as its vast economy expands in the coming years, wrote Prime Minister Narendra Modi in an essay published on his official website on February 24.

“If India grows without following the principle of sustainability, then such growth would be fictitious, as it would be unsustainable,” the post argued. “Therefore, India's economic development must align with the principles of circularity, eliminating waste and pollution, circulating products and materials (at their highest value), and regenerating nature.”

He noted that India ranked seventh globally in generating solid waste – 62 million tonnes annually. By decade’s end, that number is expected to increase to 165 million tonnes of solid waste annually. India today is also a major producer of plastic that now washes into the sea.

The country needed to develop its capacity to reuse and recycle that waste into new products, argued Modi. The new green industries that would arise from this process would create more jobs, finance more innovation, and reduce the extraction of raw materials and emissions of greenhouse gas emissions that cause climate change.

“Being a resource-intensive economy with a large and rapidly growing population, India has a vast potential to be a global leader in the circular economy,” the prime minister’s website said, adding that India's circular economy could reach $2 trillion by 2050, including almost 10 million jobs.

His government, he added, has promulgated new rules that help foster circular economies in plastic waste, e-waste, construction and demolition materials, and metals. ce/jd