Green recovery to help economic revival and create more jobs

23 October 2020: India’s consumption is about 15 million tons and estimated recycling capacity is just 2.35 million tons. Therefore, recycling continues to be in the informal and unregistered units.

Hence, the green recovery post-COVID would not just help India to tackle environmental challenges like climate change, it would also help economic recovery through creation of jobs and opportunities, said Amitabh Kant, CEO, NITI Aayog. He was speaking at the virtual ‘FICCI Circular Economy Symposium 2020.’ He emphasizes on the need for developing and adopting the Circular Economy (CE).

He said that COVID-19 is a reminder of the vulnerabilities built into the present system. “The new paradigm emphasises on taking a comprehensive view on products and processes to achieve minimization of recourse use. The world is increasingly becoming conscious to the pattern and efficiencies of resource usage.”

He further said that material recycling offers a paradigm shift from the conventional recycling techniques of incineration and land filling by transforming EOL products, scraps and wastes into useful raw materials to be fed back to the economy instead of being disposed in landfills, etc. The recycling industry is closely integrated in different commodity sectors driven by basic supply and demand.

Material recycling is one of the building blocks of resource efficient Circular Economy. Many countries have initiated a way forward towards promoting the CE through organized recycling to attain sustainable development. “Scrap materials are not waste; recyclable material is a resource. They have an important role in economy and sustainable development,” the Minister said.