India’s circular economy poised to generate $2 trillion and 10 million jobs by 2050: Bhupendra Yadav

Union Minister for Environment, Forest & Climate Change, Bhupender Yadav, on Tuesday said that India’s circular economy could generate a market value exceeding $2 trillion and create nearly 10 million jobs by 2050.

Speaking at the 12th Regional 3R and Circular Economy Forum in Asia and the Pacific, Yadav emphasized that the transition to a circular economy represents one of the most profound shifts in business since the Industrial Revolution nearly 250 years ago.

“The circular economy challenges the traditional ‘take, make, waste’ model, opening doors to a sustainable system that could contribute an additional $4.5 trillion to the global economy by 2030,” Yadav said.

During the forum, he also announced India’s candidacy to host the World Circular Economy Forum in 2026, expressing the country’s commitment to leading global efforts in sustainability. The 2025 edition of the forum is set to take place in São Paulo, Brazil, and India has formally expressed its willingness to host the event the following year.

Yadav reaffirmed India’s commitment to tackling plastic waste and its environmental consequences, citing the Plastic Waste Management Rules (2016) as a crucial framework. “We have taken decisive steps, including the 2022 ban on single-use plastics, and through initiatives like the Mission LiFE, the Ministry of Environment, Forest & Climate Change (MoEFCC) has introduced Eco-Mark Rules to promote energy efficiency and environmentally friendly products,” he said.

One of the major highlights was the launch of the SBM Waste to Wealth PMS Portal, a digital platform developed under the Swachh Bharat Mission (SBM) to enhance project monitoring, data management, and resource sharing.

The session marked the release of the IFC Document Reference Guide: Business Models and Economic Assistance for Municipal Solid Waste (MSW) Projects. The guide provides detailed insights into waste-to-electricity, biomethanation, and bioremediation, offering valuable resources for municipalities and private enterprises looking to implement effective waste management projects.

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) to bolster scientific collaboration in waste management.

The forum also saw the unveiling of ‘India’s Circular Sutra: A Compendium of Best Practices in 3R & Circular Economy,’ which compiles successful case studies and innovative approaches in the Reduce, Reuse, and Recycle (3R) framework. The compendium aims to serve as a guiding document for urban local bodies and stakeholders committed to advancing circular economy principles.

The Council on Energy, Environment, and Water (CEEW) presented its latest study on solid waste management in cities with populations exceeding one million, offering strategic insights into decentralized waste solutions, circular economy implementation, and sustainable waste management practices.