Union Minister for Environment and Climate Change Bhupendra Yadav said India’s circular economy could generate a market value of over USD 2 trillion and create close to 10 million jobs by 2050.
Addressing the 12th Regional 3R and Circular Economy Forum in Asia and the Pacific here on Tuesday, he said, “Prime Minister Narendra Modi’s call for building a ‘waste to wealth’ circular economy was to ensure the driver for adopting circular economy isn’t scarcity, but opportunity.
Yadav said, “The circular economy is not just an alternative, rather it is essential. It marks a fundamental shift in how we produce, consume, and manage materials. Under Prime Minister Modi’s leadership, India is moving ahead from waste management to harnessing the economic potential of recycling through this “Waste to Wealth initiative.”
He also underscored the economic opportunities of circularity, particularly for startups and innovators developing recycled products.
The 12th Regional 3R and Circular Economy Forum in Asia and the Pacific was inaugurated by Union Urban Development Minister Manohar Lal Khattar here on Monday and addressed by several dignitaries, including Rajasthan Chief Minister Bhajan Lal Sharma.
The speakers said that the three-day event marked a significant milestone in regional cooperation for sustainable waste management and circular economy initiatives. The Forum is providing a critical platform for policymakers, industry leaders, researchers, and development partners to discuss and implement sustainable solutions for waste management and resource efficiency.
The event being attended by around 500 invited delegates from different states, besides, the United Nations, Japan and Asia and Pacific countries including, Solomon Islands, Tuvalu, and Maldives will conclude on Wednesday.