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POLICY REVIEW
Benefits and Potential: circular economy practices by committing to enhance
and developing supportive environmentally sound waste
• Economic Growth: A
circular economy can lead policies are necessary. management, substantially
to significant economic Research and reduce waste generation by
benefits, with studies Development: 2030, and highlighting the
importance of zero waste
predicting potential annual initiatives.
benefits of USD 624 billion • Promoting research and
by 2050. development in the field of RECEIC has the potential
circular economy can lead to transform aspirations
• Job Creation: The circular to innovative solutions.
economy is expected to into concrete action and
create millions of jobs. • Collaboration: Between would play a pivotal role
government, businesses, in promoting alliances,
• Environmental Conservation: and civil society is essential encouraging technological
By minimising waste to build a robust circular cooperation and knowledge
and resource extraction, economy framework. transfer, fostering innovation,
a circular economy can and facilitating the exchange
contribute to environmental • Startups: India has a of insights to enhance access
conservation and growing number of to finance.
sustainability. startups focused on circular
economy solutions, The RECEIC, conceptualised
• Resource Efficiency: The indicating the potential for by the India’s G20 Presidency
circular economy aims innovation and growth in is envisaged to be industry
to maximise the value this sector. driven and a self-sustaining
of resources throughout initiative continuing to
their lifecycle, promoting Resource Efficiency function even beyond India’s
resource efficiency. Circular Economy Industry G20 Presidency. The mission
Coalition (RECEIC)
• Sustainable Development: of this coalition is to facilitate
Transitioning to a circular Circular economy, extended and foster greater company-
economy aligns with the producer responsibility and to-company collaboration,
Sustainable Development resource efficiency plays build advanced capabilities
Goals (SDGs). a critical role by making across sectors and value
an endeavour to decouple chains, bring learnings
Challenges and our economic growth from from diverse and global
Opportunities: environmental degradation experiences of the coalition
• Infrastructure Development: and enhancing sustainable members, and unlock on-
Improving infrastructure consumption and production, ground private sector action
for waste management and including primary resource to enhance resource efficiency
recycling is crucial. consumption while and accelerate circular
supporting economic growth economy transition.
• Awareness and Education: and achieving sustainable The coalition is structured
• Creating awareness and development. During the around the three guiding
education programs about Indian presidency of G-20, pillars of partnerships
circular economy practices an industry led coalition on for impact, technology
is essential. Resource Efficiency Circular cooperation and finance for
Economy Industry Coalition
• Incentives and Policies: scale. Resource efficiency
Providing incentives for (RECEIC) was launched and circular economy
April, 2025, Volume 26. No.1 - SHELTER 39