India’s circular economy could be $2tr by 2050: Govt

India’s circular economy could generate a market value of over $2 trillion and create close to 10 million jobs by 2050, Minister for Environment, Forest & Climate Change Bhupender Yadav said.

Speaking at the 12th Regional 3R and Circular Economy Forum in Asia and the Pacific, he said that the circular economy may be about to drive one of the biggest transformations in business since the Industrial Revolution 250 years ago. Through a radical departure from the traditional ‘take, make, waste’ production and consumption models, the circular economy could provide a potential $4.5 trillion in additional economic output by 2030 world over, an official press release said.

Yadav also informed the forum about India’s candidacy for organising the World Circular Economy Forum in 2026. Every year, World Circular Economy Forum is organised and in this year, 2025 it is being organised in Sao Paulo, Brazil.

Emphasising the steps taken, the Minister said India remains committed to addressing plastic waste challenges and their associated ecological impacts. The Plastic Waste Management Rules (2016) have led to significant measures targeting municipal, industrial, residential, and commercial sectors. India has banned certain categories of single-use plastics through notification in 2022. In alignment with the Mission LiFE initiative, his Ministry has notified the Eco-Mark Rules to encourage demand for environmentally friendly products while promoting energy efficiency and circular economy principles.

He further said Circular Economy Action Plans for 10 waste categories have been finalised, for which regulatory and implementation framework is under progress. India has already notified various waste management and extended producer responsibility rules in certain sectors, such as the Plastic Waste Management Rules, e-Waste Management Rules, Construction and Demolition Waste Management Rules, and Metals Recycling Policy, among others.