The minister envisioned that the size of Indian circular economy would be around two trillion USD by 2050

Union minister for environment, Forest and climate change, Bhupendra Singh Yadav, highlighted the immense potential of India’s circular economy, emphasising that it could create 10 million jobs by 2050. He projected that by the same year, the circular economy may have a market value of USD 2 trillion. He added that India may save USD 624 billion by adopting circular practices.

He said that this shift presents a big opportunity for start-ups and new recycled product developers. The minister emphasised the importance of aligning this growth with environmental sustainability, drawing inspiration from nature’s efficient recycling systems.

Waste Is A Resource
The minister said that the circular economy has a major role in the future including reducing, reusing, and recycling at every stage, from product design to end-of-life management. He emphasised that waste should not be treated as a burden but as a resource. Adopting sustainable practices is crucial for achieving economic resilience, environmental sustainability, and social security.

He explained several policy measures to convert waste into resources. He said, “Various policies spearheaded by the Government of India and Ministry of Environment including the Plastic Waste Management Rules, Construction and Demolition Waste Management Rules, E-Waste Management Rules, and the Motor Vehicle Scrap Policy- aim to streamline waste management and promote eco-friendly production across industries”.

He also mentioned the requirement of a green workforce. He said, “Zero waste and eco-friendly production requires a skilled workforce in recycling technologies and eco-friendly product design. Let’s aspire for a Green & Sustainable Viksit Bharat.”