Achieving Environmental Impact: Sectoral Study of Application of Circular Economy in India
Keywords:
Economics, Environmental Impact, Environmental Sustainability, resource efficiency, reduce, recycle, and reuse.Abstract
This paper provides framework for achieving resource efficiency, environmental efficiency through
the application of circular economy in business models in India. The paper also addresses the lesson from
India on the Principles of Circular Economy: REDUCE, REUSE and RECYCLE to achieve environmental
benefits along with social and economic benefits. The focus will be on reviewing the application of circularity
principle for the sectors: Construction, Electronics and Electrical Equipment and Agriculture. The rationale
for selection of sector is that – Construction is the major job creators, Construction, automobile, and
electronics have the largest growth potential; Majority of household expenditure is on these sectors. India is
experiencing digital revolution and is the second largest market for smartphones apart from US. This sector
will provide the maximum advantage through the application of circular economy and enablers like- tracking,
leasing, and sharing.
