Experts discuss benefits of Circular Economy model

Nov 22, 2022

Scientists and environmentalists have long been advocating eco-friendly production and consumption practices that eliminate disposal of waste in the landfill and that ensures optimal use of available natural resources. Economies are transitioning to a new model of economic development which is circular rather than linear. In a linear economic model, raw materials are extracted to produce goods and the goods are disposed as waste at the end of their life. In a circular economic model, these goods are designed in such a way that their lifecycle is enhanced and they can be recycled at the end of their life to eliminate waste.

 

Such a circular economy model benefits not only our environment, but also our industry by giving rise to new business opportunities in waste management, logistics, repair and refurbishing, upcycling and other activities. MVIRDC WTC Mumbai organized an interactive panel session to discuss India’s transition to a circular economic model.

Speaking on this occasion, Dr. Ajay Deshpande, Adjunct Professor, IIT Bombay remarked, ‘‘Circular economy action plans have been prepared and rolled out for 11 sectors by the Government of India. The industry will be immensely benefited by adopting the Circular Economy approach which will not only improve their competitiveness but also lead to better compliance for long-term sustainability of the industry.”

 

Earlier in his welcome remarks, Dr. Vijay Kalantri, Chairman, MVIRDC WTC Mumbai pointed out that Circular approach is the future of our economic model as it can address many of the current challenges such as climate change, pollution, rising input cost and high retail inflation. Dr Kalantri highlighted the scope for waste recovery in India as the country generates 1.45 lakh metric tonne of solid waste every day. But there is lack of infrastructure to recycle this waste. To eliminate waste, we need to adopt circular approach through reuse, refurbishing, repairing, repurposing and recycling used products, he pointed out.

 

During the session, Ms. Tejashree Joshi, Head – Environment Sustainability, Godrej & Boyce Mfg. Co. Ltd. provided an overview of the sustainable initiatives adopted by the 125 year old business group to promote transition to a circular economy.

In her remarks, Dr. Shilpi Kapur, Vice President, Environmental Management Centre Pvt. Ltd. suggested large companies and Original Equipment Manufacturers (OEMs) to work with their tier II and tier III vendors as well to develop a sustainable and green supply chain.

During the session, an award winning start-up woman entrepreneur Ms. Arpita Kalanuria, Founder-Director, AmpleEarth Packaging & Systems Pvt. Ltd. explained various government schemes for financing MSMEs and start-ups in waste management, sustainable packaging and other circular economy sectors.

 

Mr. Ulhas Vinayak Parlikar, Global Consultant – Waste Management, Circular Economy moderated the panel session.

A key highlight of the event was the release of a White Paper on Circular Economy. This White Paper highlights the need to expedite transition to a circular economy so that India can achieve efficient use of raw materials and reduce our import dependence for critical raw materials.

In Photo: Dignitaries releasing the White Paper on Circular Economy during an interactive session at WTC Mumbai. (From left to right): Ms. Rupa Naik, Executive Director, WTC Mumbai; Ms. Tejashree Joshi, Head, Sustainability, Godrej & Boyce Mfg; Dr. Shilpi Kapur, Vice President, Environment Management Center; Dr. Vijay Kalantri, Chairman, MVIRDC WTC Mumbai; Mr. Ulhas Parlikar, Global Consultant on Circular Economy, Ms. Arpita Kalanuria, Founder, AmpleEarth Packaging and Dr. Ajay Deshpande, Adjunct Professor, IIT Bombay.