India’s Circular Economy to Generate $2 trillion by 2050 says Minister Bhupender Yadav

India’s circular economy could generate a market value of over $2 trillion and create close to 10 million jobs by 2050.

Expressing this view at the 12th Regional 3R and Circular Economy Forum in Asia and the Pacific, India’s Minister for Environment, Forest & Climate Change, Bhupender Yadav said, the ‘circular economy’ may be about to drive one of the biggest transformations in business since the Industrial Revolution 250 years ago.

Making a radical departure from the traditional ‘take, make, waste’ production and consumption models, the circular economy could provide a potential $4.5 trillion in additional economic output by 2030 worldwide.

Mr Yadav also informed the forum about India’s candidacy for organising the World Circular Economy Forum in the year 2026. The World Circular Economy Forum is organised yearly and this year it is being held in São Paulo, Brazil.

Emphasising the steps taken, the Minister said, India remains committed to addressing plastic waste challenges and their associated ecological impacts. The Plastic Waste Management Rules (2016) have led to significant measures targeting municipal, industrial, residential, and commercial sectors.

India has banned certain categories of single-use plastics through notification in 2022. In alignment with the Mission ‘LiFE’ initiative, MoEFCC has notified the Eco-Mark Rules to encourage demand for environmentally friendly products while promoting energy efficiency and circular economy principles.

He further said the Circular Economy Action Plans for 10 waste categories have been finalized, for which the regulatory and implementation framework is under progress.

India has already notified various waste management and extended producer responsibility rules in certain sectors, such as the Plastic Waste Management Rules, e-Waste Management Rules, Construction and Demolition Waste Management Rules, and Metals Recycling Policy, among others.

Launch of SBM Waste to Wealth PMS Portal

A major highlight of the session was the launch of the SBM Waste to Wealth PMS Portal, an innovative online platform developed under the Swachh Bharat Mission (SBM).

The portal is designed to enhance project monitoring, streamline data management, and facilitate resource sharing, thereby supporting the mission’s broader objective of transforming waste into valuable resources. This initiative aligns with the government’s commitment to sustainable urban development and effective solid waste management.

Release of IFC Document Reference Guide

The session also marked the release of the IFC Document Reference Guide: Business Models and Economic Assistance for Municipal Solid Waste (MSW) Projects.

This guide provides comprehensive insights into various business models for MSW processing, including waste-to-electricity, biomethanation, and bioremediation. The document serves as a crucial resource for municipalities and private players looking to implement effective and economically viable waste management projects.

MoU Between CSIR and MoHUA

In a significant step toward fostering scientific collaboration in waste management, a Memorandum of Understanding (MoU) was signed between the Council of Scientific and Industrial Research (CSIR) and the Ministry of Housing and Urban Affairs (MoHUA).

This partnership will facilitate research-driven solutions and innovative technologies to enhance urban waste management practices across India.

Release of ‘India’s Circular Sutra’

The event also saw the release of ‘India’s Circular Sutra: A Compendium of Best Practices in 3R & Circular Economy’. This compendium documents successful case studies and innovative approaches in the Reduce, Reuse, and Recycle (3R) framework, providing valuable insights for urban local bodies and stakeholders looking to implement circular economy solutions.

These initiatives mark a significant step forward in India’s efforts to promote sustainable waste management, encourage innovation, and drive the transition toward a circular economy.

CEEW Report on Solid Waste Management in Million-Plus Cities

The Council on Energy, Environment, and Water (CEEW) presented its latest study, which offers a detailed outlook on solid waste management (SWM) practices in cities with populations exceeding one million. The report highlights sustainable waste management strategies, circular economy principles, and decentralized solutions that can be tailored to meet the unique challenges of India’s rapidly urbanizing regions.

Technical and Heritage Visit of Delegates

 The delegates undertook a technical site visit to key waste management and sanitation facilities in Jaipur, including the Waste to Energy Plant and Sanitary Landfill Site at Langariyawas and the Dehlawas Sewage Treatment Plant. 

These visits provided firsthand insights into innovative waste processing techniques, energy recovery from waste, and efficient sewage treatment mechanisms.

In addition to the technical visits, the delegates explored Jaipur’s rich cultural heritage, visiting iconic landmarks such as Hawa Mahal, City Palace, Albert Hall, and Patrika Gate.

These heritage visits offered a glimpse into the city’s architectural grandeur and historical significance, providing a holistic experience that blended urban infrastructure advancements with Rajasthan’s vibrant cultural legacy.