Today is the age of circular economies, and the conventional linear economy should be swapped for the new buzzword associated with developed economies and the developing economy, like India. Circular Economy is supposed to be the target for increase and utilize the maximum products with efficiency and sustainability. This focus is on minimizing the waste of those scarce and essential ingredients, also dwindling, necessary for providing goods and services. Thus it relies on recycling to reuse scrap and remains of the products for economic ends. Thus the balance sheet must be kept in the view of producing the least wasteful results, increasing production with the recycling of any type and kind of wastes into furthering production to assure on the fullest use of wastes and scrap. This doctrine and practice of linear economy is outdated; produce, use and dispose of the waste should be banned for the broader interest of end users in developing India. Circular economy embodies the manufacturing process that leads to eco-friendly products while minimizing necessary residual wastes and laments in general economy. Japan and Europe are running roundabout ways of originating circular economies; in India only 30 percent is running in circular economy lines with a remaining majority still moving in their conventional lineal production processes-that is, make-use-throw.
But this is what our developing country is developing into, circular, and the NPC, NITI Ayog are playing important roles in making sure that these circular production processes are eco-friendly with minimum pollution of various kinds. For giving shape to the circular economy, the government, NPC, NITI Ayog, industrial associations, chamber of commerce and industry, NGOs, and the general public can play a role so that in India the circular economy experiment becomes successful. But one thing is certain that the products stemming out of the circular economy would be eco-friendly but slightly expensive, which depend upon the consumer to decide to buy traditional linear economy products or eco-friendly products manufactured by the circular economy. Basically, in this context, awareness and information campaign about the benefits of using eco-friendly products should be made to the consumers, and they should be made aware of the advantages of using and recycling the waste material and transforming the waste material and residues into production channels so that new useful products are given shape and there is minimum of wastage. In this connection, it has become utmost necessary to segregate the industrial and domestic waste and also to segregate the dry and liquid waste so that those could be again upgraded into a process of conversion through production for providing useful products for the society. The circular economy is aimed largely to minimize wastage or to have a zero-waste environment.
There is a city in Japan which believes and practices working in the principles and practice of a circular economy and has no waste during the production process, hence has become synonymous with waste-free cities. It has become a tourist destination and tourists flock in from far and wide to visit this city. Learning from this experience Indian industrialists and producers should ponder over how such a circular economy is possible which leads to no waste or scrap. However, in many years, this has not been the case; thus, while moves are underway in that regard, we have yet to fully transition from a linear economy to a circular economy. It could therefore be some years before circular economic processes are fully embraced and flourished, leading to sustainable productivity which itself will guarantee minimal wastes, maximum efficiency, and optimal utilization of all scarce resources. Circular economy can be seen as a contrasting option to the widely adopted linear economy. The linear economy is based on an obsolete model of take, make, dispose of. In a circular economy, we aim to keep our resources in use for as long as possible, extracting the maximum value for them while in use and recovering and regenerating products and materials after the end of their disciplinary service life. It is an economic system wherein products and services are exchanged in closed loops or cycles. A circular economy is thus characterized as being regenerative by design to keep the greatest possible value of products parts and materials.
A Circular economy is an economic system aimed at minimizing waste and making the most of the resources. This regenerative approach is in contrast to the traditional linear economy which has a make, use and dispose model of production. According to Ellen Macathur Foundation, It is looking beyond the current take, make and waste extractive industrial model. A circular economy is to redefine growth to provide society-wide benefits. It gradually decouples economic activities from finite resource consumption and eliminates waste from the system. Under pinned by the traditional to renewable energy resources, the circular model builds economic natural and social capital. Pertinent to mention here that there are three basic principles behind the circular economy. These are as below:-
1. Design out waste and pollution
2. Keep products and materials in use
3. Regenerate natural systems.
Circular economic activities build up system resuscitation and reconstruction. Concepts teach that for bigger and smaller businesses, organizations, and individuals on a global and local scale, the economy must operate efficiently. Denmark, Netherlands, Scotland, Sweden, and Japan follow a circular economic model. In Denmark, some resource strategies assign "waste" status to any material that may be recycled or reused; the substances that are acceptable include those that do not contain toxic materials. The Commission has estimated that in a circular economy, EU businesses, save as much as dollar 600 billion. Countries all over the world are drawing up plans to move over to the circular economy Circular economy strategy for waste materials. Circular economy aims to extract maximum usage from each of their products, materials, and resources for as long as possible. To sum up, it is very lucid that economies across the whole world were heading towards the direction of with reserves and hopeful India will not stay behind. However, India will have to put in a deep effort to make this possible which includes the government, NITTI Ayog, NPC, Industry associations, trading and business houses, NGOs and thus all public as consumers and final users themselves.
(Vivek Koul)
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