India can add value to its growth by resorting to a circular economy essentiating maximum utility of products, components and materials. Circular economy refers to a continuous cycle preserving and enhancing natural capital, optimising resource yields, while minimising risks by managing infinite stocks and renewable flows. A circular economy development path in India could create annual value of Rs.14 lakh crores (USD 218 billion) in 2030 and Rs.40 lakh crores (USD 624 billion) in 2050 compared with the current development scenario. Businesses in India can save on material cost and increase their profits by adopting circular economy approaches. The Indian masses can also benefit as products and services will be cheaper when things are used to maximum and recycled.

(Economic Times)