5 March 2025: PIB Summary For UPSC
1. India’s circular economy to generate a market value of over $2 trillion and create close to 10 million jobs by 2050 – Union Minister
(Source – https://pib.gov.in/PressReleasePage.aspx?PRID=2108165 )
| Topic: GS2 – Int |
| Context |
|
Circular Economy’s Economic Potential
- India’s circular economy could create a market value of over $2 trillion and generate nearly 10 million jobs by 2050.
- It aims to shift from the traditional ‘take, make, waste’ model to a more sustainable approach.
- Globally, the circular economy has the potential to contribute $4.5 trillion in additional economic output by 2030.
| What is a circular economy? |
| Circular economy is an economic model that focuses on reducing waste and making the most of available resources. It replaces the traditional linear economy, which follows the take, make, and dispose approach. It promotes reusing, recycling, refurbishing, and repurposing materials to extend their lifecycle.Products are designed to be durable, repairable, and easy to disassemble for recycling. Waste is treated as a resource, reducing the need for virgin raw materials. It helps in reducing pollution, conserving natural resources, and lowering carbon emissions. This model supports sustainable economic growth and creates new job opportunities in green industries. |
India’s Bid for World Circular Economy Forum 2026
- India has expressed its willingness to host the World Circular Economy Forum in 2026.
- The event for 2025 is scheduled to be held in Sao Paulo, Brazil.
Government Initiatives to Promote Circular Economy
- Plastic Waste Management Rules (2016) – Established guidelines for managing plastic waste across municipal, industrial, residential, and commercial sectors.
- Ban on Single-Use Plastics (2022) – Prohibited specific categories of plastics to reduce environmental pollution.
- Eco-Mark Rules – Introduced to promote environmentally friendly products and energy-efficient manufacturing.
- Circular Economy Action Plans – Finalized for 10 waste categories, with regulatory and implementation frameworks in progress.
- Extended Producer Responsibility (EPR) Regulations – Implemented for plastic waste, e-waste, battery waste, and packaging materials.
- Construction and Demolition Waste Management Rules – Established guidelines for reusing and recycling construction waste.
- Swachh Bharat Mission (SBM) Waste to Wealth Portal – Launched to enhance waste management and resource efficiency.
- Memorandum of Understanding (MoU) for Scientific Collaboration – Signed between research institutions and government bodies to develop innovative waste management technologies.
- Promotion of Waste-to-Energy and Bioremediation Projects – Encouraged sustainable waste processing solutions.
Conclusion
- India’s commitment to a circular economy promotes sustainability, efficient waste management, and economic growth.
- These initiatives ensure long-term environmental benefits and resource optimization for a sustainable future.
| Practice Question: Some argue that transitioning to a circular economy poses economic and logistical challenges, yet it offers long-term environmental and economic benefits. Discuss its relevance for India and the key government initiatives supporting this transition. (250 Words /15 marks) |
Check out this 4 March 2025: PIB Summary For UPSC
