India’s circular economy is set to generate a market value exceeding $2 trillion and create close to 10 million jobs by 2050. Speaking at the 12th Regional 3R and Circular Economy Forum in Asia and the Pacific, Union Minister for Environment, Forest & Climate Change, Shri Bhupender Yadav, described the circular economy as one of the most significant business transformations since the Industrial Revolution. By moving away from the traditional ‘take, make, waste’ model, a global circular economy could add $4.5 trillion in economic output by 2030.
India has formally expressed interest in hosting the World Circular Economy Forum in 2026, a major international event that fosters discussions on sustainable economic practices. The 2025 edition of the forum is scheduled to take place in São Paulo, Brazil. India’s bid underscores its commitment to global leadership in sustainability and waste management.
Highlighting India’s initiatives, Shri Yadav reaffirmed the government’s commitment to tackling plastic waste and promoting sustainable practices. Since the introduction of the Plastic Waste Management Rules (2016) and the subsequent ban on specific single-use plastics in 2022, India has made significant strides in reducing plastic pollution. Additionally, the Mission LiFE initiative has led to the introduction of Eco-Mark Rules to boost demand for environmentally friendly products.
The government has also finalised Circular Economy Action Plans for ten waste categories, with regulatory and implementation frameworks currently being developed. Several extended producer responsibility (EPR) regulations have already been established, covering plastic waste, e-waste, construction and demolition waste, and metals recycling.
At the forum, significant progress was made in advancing India’s waste management strategies through the launch of various initiatives and reports:
A major highlight of the event was the introduction of the SBM Waste to Wealth PMS Portal, a digital platform developed under the Swachh Bharat Mission (SBM). The portal aims to improve project monitoring, enhance data management, and facilitate resource sharing. By transforming waste into valuable resources, the initiative aligns with India’s broader goals of sustainable urban development.
Another key development was the release of the IFC Document Reference Guide: Business Models and Economic Assistance for Municipal Solid Waste (MSW) Projects. This guide provides an in-depth analysis of waste-to-energy, biomethanation, and bioremediation models, offering valuable insights for municipalities and private stakeholders involved in waste processing.
A significant milestone in scientific collaboration was the signing of an MoU between the Council of Scientific and Industrial Research (CSIR) and the Ministry of Housing and Urban Affairs (MoHUA). This agreement aims to facilitate research-driven waste management solutions, leveraging innovative technologies to enhance urban sustainability.
The forum also saw the launch of ‘India’s Circular Sutra: A Compendium of Best Practices in 3R & Circular Economy’, a collection of case studies showcasing successful Reduce, Reuse, and Recycle (3R) initiatives. This compendium serves as a valuable resource for urban local bodies and other stakeholders interested in implementing circular economy solutions.
The Council on Energy, Environment, and Water (CEEW) presented a study focusing on solid waste management (SWM) practices in Indian cities with populations exceeding one million. The report provides a detailed analysis of sustainable waste management strategies, circular economy principles, and decentralised solutions tailored to India’s growing urban challenges.
India’s commitment to transitioning towards a circular economy is evident in its policy framework, ambitious targets, and innovative waste management strategies. With a potential market value of over $2 trillion and job creation in the millions, the shift towards sustainable economic models presents significant opportunities for businesses, policymakers, and environmental advocates alike. Hosting the World Circular Economy Forum 2026 could further cement India’s position as a global leader in sustainable economic transformation.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Mar 5, 2025, 2:10 PM IST
Team Angel One
We're Live on WhatsApp! Join our channel for market insights & updates
Get the link to download the App
