A worker sorts plastic household waste at a warehouse in a recycling facility operated by Mysuru City Corp. in Mysuru, Karnataka, India (Photographer: Samyukta Lakshmi/Bloomberg)  

Circular Economy Likely To Generate 1.4 Crore Jobs In 5-7 Years, Says Niti Aayog CEO

Circular economy has the potential to generate 1.4 crore jobs in next five-seven years and create lakhs of new entrepreneurs, Niti Aayog Chief Executive Officer Amitabh Kant said Monday.

Speaking at an event organised by industry body Ficci, Kant said that sustainable development and resource circularity is the need of the hour to implement circular economy.

Circular economy implies reusing waste back into the production cycle to produce new products and uses instead of wasting such materials with embedded resources.

Kant said that by 2050, the world population would reach 9.7 billion of which three billion people would prosper to middle class consumption level.

This would require 71 percent more resources per capita, thereby raising total mineral and material demand from 50 billion tonnes in 2014 to 130 billion tonnes in 2050, he noted.

Kant also stressed on the need of promoting non-government organisations to spread awareness and developing circular economy as a national agenda.

Resource efficiency is closely linked to the concept of circular economy which has gained prominence as a policy goal for sustainable development in recent years.

Also read: Fitch Cuts India Growth Forecast To 6.6% For FY20 

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