India’s Union Minister for Environment, Forest, and Climate Change, Bhupendra Yadav, announced that India’s circular economy has the potential to generate a market value of over $2 trillion and create nearly 10 million jobs by 2050. The announcement was made at the 12th Regional 3R and Circular Economy Forum in Asia and the Pacific, where Yadav highlighted the profound shift towards sustainability.

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• Bhupendra Yadav revealed that India’s circular economy could generate over $2 trillion and 10 million jobs by 2050.
• Circular economy offers a shift from the traditional “take, make, waste” model to a more sustainable approach.
• The transition to a circular economy could add $4.5 trillion to the global economy by 2030.
• Yadav announced India’s bid to host the World Circular Economy Forum in 2026, underscoring India’s commitment to sustainability.
• India’s efforts in tackling plastic waste were highlighted, with the 2022 ban on single-use plastics and Plastic Waste Management Rules (2016).
• The SBM Waste to Wealth PMS Portal was launched, enhancing waste management, data sharing, and project monitoring.
• The IFC Document Reference Guide was released, offering insights into waste-to-electricity and biomethanation for municipal waste projects.
• A Memorandum of Understanding (MoU) was signed between CSIR and MoHUA to strengthen scientific collaboration in waste management.
• ‘India’s Circular Sutra’ was unveiled, showcasing best practices and case studies in 3R (Reduce, Reuse, Recycle) for urban bodies.
• CEEW presented a study on solid waste management in large cities, focusing on decentralized solutions and sustainable practices.