The Business Bytes
THEBUSINESSBYTES BUREAU
NEW DELHI, MARCH 4, 2025
India’s circular economy has the potential to create a market value exceeding $2 trillion and generate close to 10 million jobs by 2050, according to Union Minister for Environment, Forest & Climate Change, Bhupender Yadav. Speaking at the 12th Regional 3R and Circular Economy Forum in Asia and the Pacific, the minister emphasized that circular economy principles could drive one of the most significant transformations in global business since the Industrial Revolution. He noted that, by 2030, circular economy models could add up to $4.5 trillion in additional economic output worldwide.
Highlighting India’s growing role in the global sustainability movement, Yadav announced that the country has submitted its candidacy to host the World Circular Economy Forum in 2026. This year, the prestigious event will take place in São Paulo, Brazil.
The minister underscored India’s commitment to tackling plastic waste through progressive policies. The Plastic Waste Management Rules (2016) have enabled effective interventions across various sectors. Additionally, India enforced a ban on certain single-use plastics in 2022, marking a significant step toward reducing plastic pollution.
In alignment with the Mission LiFE (Lifestyle for Environment) initiative, the Eco-Mark Rules have been introduced to encourage the demand for environmentally friendly products and support energy-efficient, circular economy-based manufacturing. India has also finalized Circular Economy Action Plans for 10 waste categories, with regulatory and implementation frameworks currently being developed.
Several waste management and extended producer responsibility (EPR) regulations have been enacted across industries, covering plastic waste, e-waste, construction and demolition waste, and metals recycling. These policies aim to promote sustainability and resource efficiency across the economy.
A pivotal session at the forum was jointly chaired by Shri Srinivas Kathikala, Secretary, Ministry of Housing and Urban Affairs, and Shri Sudhansh Pant, Chief Secretary, Government of Rajasthan. The session witnessed the launch of key reports, the signing of crucial agreements, and the introduction of innovative platforms to enhance India’s waste management ecosystem.
Among the major highlights was the launch of the SBM Waste to Wealth PMS Portal, developed under the Swachh Bharat Mission (SBM). This online platform is designed to enhance project monitoring, streamline data management, and facilitate resource sharing, ultimately supporting India’s goal of converting waste into valuable resources.
Additionally, the session featured the release of the IFC Document Reference Guide on Business Models and Economic Assistance for Municipal Solid Waste (MSW) Projects. The guide provides municipalities and private enterprises with comprehensive insights into waste-to-energy, biomethanation, and bioremediation models, enabling the adoption of economically viable waste management strategies.
In a move to foster research-driven waste management solutions, an MoU was signed between the Council of Scientific and Industrial Research (CSIR) and the Ministry of Housing and Urban Affairs (MoHUA). This partnership aims to develop innovative technologies for urban waste management, reinforcing India’s commitment to scientific advancements in sustainability.
The event also marked the release of ‘India’s Circular Sutra: A Compendium of Best Practices in 3R & Circular Economy’, which showcases successful case studies in Reduce, Reuse, and Recycle (3R) initiatives. The compendium serves as a vital resource for urban local bodies and industry stakeholders aiming to implement circular economy solutions.
The Council on Energy, Environment, and Water (CEEW) presented a comprehensive study on solid waste management (SWM) in cities with populations exceeding one million. The report highlights sustainable waste management strategies, circular economy principles, and decentralized solutions tailored to India’s rapidly growing urban centers.
To gain firsthand experience of India’s waste management advancements, delegates participated in a technical site visit to key facilities in Jaipur, including: Waste to Energy Plant and Sanitary Landfill Site at Langariyawas; and Dehlawas Sewage Treatment Plant.
These visits showcased innovative waste processing techniques, energy recovery systems, and efficient sewage treatment models, offering valuable insights for stakeholders looking to replicate such solutions nationwide.
Beyond the technical discussions, delegates also explored Jaipur’s rich cultural heritage, visiting iconic landmarks such as Hawa Mahal, City Palace, Albert Hall, and Patrika Gate. These visits provided a unique perspective on how India balances its architectural legacy with modern urban sustainability initiatives.
The forum’s discussions and initiatives reaffirm India’s dedication to advancing the circular economy, promoting sustainable waste management, and fostering global cooperation in environmental conservation. With progressive policies, strategic collaborations, and innovative technological solutions, India is poised to lead the transition toward a resource-efficient, low-carbon future.
