India's circular economy set to reach $2 tn by 2050, creating 10 mn jobs: CII roadmap

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India's circular economy set to reach $2 tn by 2050, creating 10 mn jobs: CII roadmap

India's circular economy set to reach $2 tn by 2050, creating 10 mn jobs: CII roadmap

Industry News
Dec 08,23

In this roadmap, the CII and various industry stakeholders advocate for the establishment of a new entity called the National Circular Economy Authority (NCEA).

India's circular economy set to reach $2 tn by 2050, creating 10 mn jobs: CII roadmap

The Confederation of Indian Industry (CII) predicts that India's circular economy will likely reach a valuation of $2 trillion by 2050, generating nearly 10 million jobs. This projection comes from the CII's 'National Circular Economy Framework' (NCEF), which also introduces a strategic roadmap.

In this roadmap, the CII and various industry stakeholders advocate for the establishment of a new entity called the National Circular Economy Authority (NCEA). The NCEA's role would involve implementing the national Circular Economy strategy, coordinating the efforts of diverse industries and agencies, and reforming regulations, among other responsibilities.

According to the roadmap, the NCEF is poised to play a crucial role in reducing dependency on imported resources, decoupling economic growth from resource consumption, diminishing resource consumption and pollution, enhancing resource security, reducing costs, improving competitiveness, attracting investments, and more.

Source: CNBC 18