India can create 14 million jobs by investing in sustainable development
- Speaking at a FICCI event,
Niti AayogCEO Amitabh Kantsaid India’s circular economywill create 14 million jobs in the next 5-7 years.
- India is already a leader in circular economy investments.
- Sustainable development and resource circularity is an inescapable necessity today.
Circular economy refers to an economic system which prioritizes waste management and maximum utilization of resources.
“By 2050, world population would reach 9.7 billion of which 3 billion people would prosper to middle class consumption level. This would require 71% more resources per capita, thereby raising total mineral and material demand from 50 billion tonnes in 2014 to 130 billion tonnes in 2050,” said Kant, speaking at an event by Federation of Indian Chambers of Commerce and Industry (FICCI).
AdvertisementBetween economy and ecology
Kant also pointed out that India is the fourth largest producer of e-waste in the world. He also suggested that India needs a reconciliation between economy and ecology. Sustainable development and resource circularity is an inescapable necessity today said the NITI Aayog CEO.
The effects of avoiding optimum utilization of resources will be high as well. “The corresponding economic impact of these current trends could induce price volatility and supply chain interruptions in critical and strategic materials, leaving a $4.5 trillion loss in global economic growth which could rise to $25 trillion by 2050,” he added.
According to a report released by London’s Chatham House, India is leading in circular economy investments made by developing nations. The report says that India can save $218 billion of its GDP by promoting circular economy.
India’s urban population of over 377 million generate 62 million tonnes of municipal solid waste every year, according to a report by Down to Earth, Meanwhile, India’s waste management industry is reported to have reached $14 billion by 2025.
Here’s how much an IT employee makes in different countries
AdvertisementIndia may have one common exam for all college admissions – if the draft National Education Policy is passed
Popular on BI
- Airlines can now operate 85% of pre-Covid domestic flights, says Aviation Ministry
- Yes Bank-DHFL case: No sympathy, says court, Rana Kapoor's wife, daughters remanded to judicial custody
- Punjab Chief Minister Amarinder Singh resigns amid ongoing turmoil in Congress
- Future of Work 2021: Work from home is here now, but people demand some physical sense at work
- Deadline for PAN-Aadhaar linkage extended till March 2022