New Delhi : The International Council for Circular Economy’s India Circular Economy Forum #ICEF2022 kicks off on June 2nd, 2022, at the India Habitat Center in New Delhi. As the event’s Guest of Honor, Shri Amitabh Kant, CEO of Niti Aayog, and Kari Herlevi, Project Director of Circular Economy at SITRA, were present.

Various topics were discussed at the India Circular Economy Forum like Plastics and Packaging- A Circular Approach, Circular Economy for Climate and Biodiversity, New plastic Economy, Making transition: An industry perspective, Renewable Energy, Carbon finance, Carbon credits and CCS, Making transition: An industry perspective, Building Foundation – Leading circularity, Importance of waste segregation in Circularity, Unleashing the Entrepreneurial Spirit, Circular Cities – Driving growth in Indian Cities.

The India Circular Economy Forum (ICEF2022) provides an opportunity to identify, highlight, and celebrate circular initiatives in India across various focus sectors. The forum provides a platform for stakeholders to share insights, network, and learn from other circular economy experts and practitioners, as well as a futuristic approach for stakeholders to build and scale up a circular economy.

Shri Amitabh Kant CEO Niti Aayog said “India was the only G20 country that could meet its NDC targets in renewable energy. India took on the task of undertaking massive renewals. India was ragingly blessed, so we went in for massive renewable, wind, hydro, and we have done about 110 recovered renewals. This has been made possible by world-class entrepreneurship and young entrepreneurship, which have disrupted the sector. The challenge for India is that we also have approximately 160 billion dollars in fossil fuel reserves.

We collaborated with the Ministry of Environment, Forestry, and Climate Change to identify 11 key areas to facilitate the transition from liner to circular economy and to boost manufacturing through the circular economy process. These 11 areas posed a significant challenge to India’s carbon-reduction strategy, which is why we worked on them. We formed a committee and identified a developmental path from the transactional to the circular economy.“

Shalini Goyal Bhalla MD, ICCE said “The India Circular Economy Forum (ICEF2022) provides an opportunity to identify, highlight, and celebrate circular initiatives in India across various focus sectors. India has made significant strides in a variety of areas, including renewable energy, health, ports, shipping, the circular economy, and water management. With only 2% of the world’s landmass but nearly 18% of the world’s population, it is critical for India to abandon harmful linear material flows and transition to a circular model, which will provide numerous economic and environmental benefits.  In 2018, the annual consumption growth in rural India stood at 9.7% while the urban consumption grew by 8.6%. Rural Indian households are now spending more on consumer goods like durables, health and personal care, food and beverages and services, than a few years ago. To meet sustainable goals, businesses must now strive to unleash the possibilities of a circular approach rather than conducting business-as-usual.

It is estimated that a circular economy path adopted by India could bring in annual benefits of 40 lakh crores or approximately US$ 624 billion in 2050. The greenhouse emission would reduce by 44% along with significant reduction in congestion and pollution.