THEBUSINESSBYTES BUREAU

NEW DELHI, APRIL 20, 2026

As the global economy undergoes a fundamental transformation, Union Minister Dr. Jitendra Singh on Monday asserted that the world is steadily moving towards a circular economy, where the very concept of “waste” is fast vanishing and discarded materials are increasingly being reimagined as valuable economic resources.

Addressing the second edition of the Global Symposium and Awards on Resource Efficiency and Circular Economy in New Delhi, the Minister highlighted a decisive shift in economic thinking — one that integrates sustainability with profitability. He noted that materials once considered waste are now being repurposed through recycling and biotechnology-driven innovations, setting the stage for a new era of industrial growth.

Citing a compelling example, Dr. Singh revealed that the government has generated over ₹4,000 crore from scrap, including e-waste, under the nationwide Swachhata campaign — underscoring the immense untapped potential of resource recovery.

He observed that environmental discourse has evolved significantly, moving beyond preservation to embrace its economic dimension. “Sustainability is no longer just a moral imperative — it is increasingly becoming a viable revenue model,” he said, adding that this realisation has brought greater seriousness and wider participation across sectors.

The Minister emphasised that the next phase of industrial development will be driven by recycling, biotechnology and genetically oriented processes, with experts already viewing this transition as the foundation of the next industrial revolution.

Providing practical illustrations, he pointed out that materials such as plastic waste, used cooking oil and industrial by-products like steel slag are now being transformed into high-value outputs including road construction materials, biofuels and commercially viable industrial inputs. Industries that once spent heavily on waste disposal are now generating returns from these resources, he added.

Dr. Singh further noted that the benefits of the circular economy extend far beyond large industries, reaching households, informal sectors, startups and MSMEs, thereby creating new livelihood opportunities and business models across the economic spectrum.

He stressed the critical role of public participation and behavioural change in driving this transition, stating that large-scale transformation will require collective action beyond government initiatives. As policy frameworks evolve to encourage collaboration, he urged industry, startups and civil society to actively invest, innovate and participate in this emerging ecosystem.

Highlighting India’s evolving economic landscape, the Minister said value chains are being redefined, opening up new opportunities in waste management, green technologies and circular production systems. He added that this shift will play a crucial role in achieving India’s ambitious net-zero emissions target by 2070.

Also speaking at the event, Dr. Jitendra Kumar, Managing Director of Biotechnology Industry Research Assistance Council (BIRAC), underscored India’s traditional strengths in circular practices rooted in its cultural and agricultural systems. He emphasised the need to integrate this legacy with modern scientific innovation and highlighted BIRAC’s role in supporting startups focused on green technologies, sustainable solutions and lifecycle-based approaches, including carbon credit mechanisms.

The symposium brought together representatives from government, industry, research institutions and international organisations, serving as a key platform to deliberate on policy frameworks, partnerships and implementation strategies to accelerate India’s transition towards a resource-efficient and circular economy.