India’s Circular Economy: A $2 Trillion Market and 10 Million Jobs by 2050

India’s circular economy is projected to generate over $2 trillion in market value and create nearly 10 million jobs by 2050, according to Union Minister Bhupender Yadav. Speaking at the 12th Regional 3R and Circular Economy Forum in Asia and the Pacific, he emphasized that the circular economy represents a major shift from the traditional “take, make, waste” model to a more sustainable reuse and recycle-based system. India has also expressed interest in hosting the World Circular Economy Forum 2026. Several key initiatives, MoUs, and reports were launched to promote sustainable waste management and urban circular economy practices.

Key Highlights

India’s Circular Economy Potential

• Could generate $2 trillion+ in market value.
• Expected to create 10 million jobs by 2050.
• Aims to replace traditional wasteful production with a sustainable economic model.
• Estimated $4.5 trillion global economic output by 2030.

India’s Bid for World Circular Economy Forum 2026

• India has applied to host the World Circular Economy Forum (WCEF) 2026.
• WCEF 2025 is scheduled to be held in São Paulo, Brazil.

Plastic Waste Management and Policy Initiatives

• Plastic Waste Management Rules (2016) set strict waste reduction guidelines.
• Ban on single-use plastics since 2022.
• Eco-Mark Rules under Mission LiFE promote environmentally friendly products.
• Circular Economy Action Plans finalized for 10 waste categories.
• Extended Producer Responsibility (EPR) Rules enforced for plastics, e-waste, construction, and metals recycling.

Major Developments at the Forum

• Launch of SBM Waste to Wealth PMS Portal
• Developed under the Swachh Bharat Mission (SBM).
• Enhances project monitoring and data management.
• Facilitates resource sharing for improved waste-to-value initiatives.

Release of IFC Document Reference Guide

• Covers business models for solid waste management (SWM).
• Discusses waste processing methods like waste-to-energy, biomethanation, and bioremediation.
• Aims to help municipalities and private sectors adopt effective waste management solutions.

MoU Between CSIR and MoHUA

• Council of Scientific and Industrial Research (CSIR) and Ministry of Housing and Urban Affairs (MoHUA) signed an MoU.
• Focus on research-driven solutions for urban waste management.

Release of ‘India’s Circular Sutra’

• A compendium showcasing best practices in Reduce, Reuse, and Recycle (3R) principles.
• Provides case studies for urban local bodies to implement circular economy solutions.

CEEW Report on Solid Waste Management in Million-Plus Cities

• Study by Council on Energy, Environment, and Water (CEEW).
• Highlights sustainable solid waste management (SWM) strategies.
• Focuses on decentralized waste solutions for fast-growing urban areas.

Technical and Heritage Visit

Technical Site Visits in Jaipur

• Waste-to-Energy Plant and Sanitary Landfill Site (Langariyawas).
• Dehlawas Sewage Treatment Plant to study waste processing and energy recovery.

Cultural Heritage Visits

• Delegates explored Hawa Mahal, City Palace, Albert Hall, and Patrika Gate.
• Highlighted Jaipur’s architectural heritage and historical significance.