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Circular Economy & International Trade: Opportunities & Challenges for India

Despite the consequences of the Covid-19 pandemic, India is currently in a unique position as one of the countries that is "most ready for circularity". This is due to its expanding middle class, urbanisation, and developing technology as well as significant economic growth from manufacturing and worldwide supply chains. To keep up with these trends, India must accelerate its transition to a circular economy (CE), given its fragile ecosystem and fast-changing climate.

 

The study aims to offer India a comprehensive and tailored CE development scheme (covering guidance on CE practices, utilization of global circular value chains (GCVC) for a faster CE transition, analysis of opportunities and challenges, amongst others) by combining India's local context, policy framework and national visions.

Objective

The objective of the study is to explore opportunities to make India a part of GCVC with 5 key goals:

  • Stimulating circular design practices & circular business models;

 

  • Developing resource management systems to increase the productive use and high-value span of goods and materials;

 

  • Aligning economic, trade, and taxation policy to circular economy outcomes;

 

  • Leveraging public finance capabilities towards public & private investment in innovation, infrastructure, and skills related to the circular economy;

 

  • Aligning new and existing policies in order to unlock a systematic, economy-wide transition to a circular economy.

Status

  • Ongoing project

Focus areas

  • Circular economy in the Indian context

  • Tailored CE development scheme for Indian policies and vision

  • Utilizing GCVC for India's CE development

  • Opportunities for India in joining GCVC

  • Challenges for India