The shift towards a circular economy is deemed essential for India’s sustainable growth. The key industry figures emphasize the importance of circular practices like PET recycling in the FMCG sector and tyre reuse in engineering projects and the need for India to adopt global practices in the circular economy, focusing on materials like plastics, glasses, and aluminium

Industry experts shared their insights on how we are marching towards the circular economy and their thoughts on the infrastructure industry. The session was chaired by Sudhir Mishra, Founder and Managing Partner of Trust Legal, Noted Environmental Lawyer.

Embracing circular economy practices is crucial for India’s sustainable growth. The linear economy, which follows a ‘take-make-dispose’ approach, is proving to be unsustainable to both the environment and long-term economic stability.

“Coming from the FMCG industry, it has a unique perspective on global best practices in circular economy which is essential for the Indian economy. Circularity extends to plastics, glasses, and aluminium, with different circularity prints and best practices. In India, 92-95 per cent of PET is used in textiles and fibres. PET is used in making new bottles and recycling, keeping it in circulation within the economy. It is important to ensure that this happens within the Indian context, creating jobs and reducing carbon emissions. By implementing best practices and ensuring the circular economy, the Indian economy can continue to grow and contribute to a more sustainable future”, Surojit Bose, Head of Sustainability, Hindustan Coca-Cola Beverages, shared.

“The 2030 water strategy focuses on regenerating water not only through plans and processes but also in the watershed. Prioritizing water sources and ensuring ecosystems are crucial. Wastewater from factories can be used in cooling towers and boilers”, he added.

“The economy is built around recycling tyres. European and US countries are recycling them. Other countries are also being conscious of sustainability and circularity in their tyre industries by reducing energy consumption to make their vehicles more sustainable. In India, engineers are using tyres to create props for safety, for road construction. The good part is that tyres don’t lose life, they can be recycled like carbon and steal and can be pulled back into production. This is not just a global concern, but a conscious effort to reduce waste and promote circularity”, Harshawardhan Honmode, EVP, Yokohama Off Highway Tyres, emphasised.

The government’s new regulations from next year will put pressure on manufacturers to prove their recycling practices and to develop sustainable practices.

Pranjal Goswami, Chief Sustainability Officer, Gokaldas Exports, shared, “The fashion industry is significantly impacted by climate change and diversity loss. The circular economy aims to transform the entire life cycle of materials, from waste management to regeneration. The basic challenge for circularity is extracting individual fibres from various fibre mixes and promoting dematerialization and growth. It is essential to rethink resource use, management and production, by promoting circularity as part of the linear economy”.

“By 2030, a new industry could be created. Promoting circularity may lead to a reduction in production by potentially reducing the number of pieces produced”. he added.