India must maximize resource efficiency to become developed by 2047

Union Environment Minister Bhupender Yadav on Tuesday said India must maximize resource efficiency to achieve its goal of becoming a developed country by 2047Addressing the conclave on Waste Recycling and Climate Change here Yadav urged industries to design products that support circularity and collectively adopt advanced recycling technologiesHe said recycling and reusing critical minerals could reduce Indias dependence on other countriesWe need to move away from the takemakedispose mindset and adopt recycling and reuse as an alternative economic model Yadav saidThe minister said the major challenge facing policymakers is how to sustain economic growth while protecting natural resourcesHe said recycling and reuse are the solutionsIf we want to make India a developed country by 2047 we must minimize waste and maximize resource efficiency the minister saidYadav said that Indias circular economy could be worth USD 2 trillion by 2050 and create 10 million jobsHe said that industries should ensure circularity in product design and work collectively to embrace advanced recycling technologiesThis is not just about one company The industry as a whole must come forward This will ensure higher recovery rates and better material utilization he saidMeanwhile Union Environment Ministry Additional Secretary Amandeep Garg said India is one of the fastestdeveloping countries and its resource consumption is rising This will also lead to increased waste generation he addedIndia currently generates 16 million tonnes of electronic waste 115 million tonnes of battery waste 13 million tonnes of used oil 152 million tonnes of waste tyres 41 million tonnes of plastic waste 10 million tonnes of endoflife vehicle waste and 300 million tonnes of metal scrapHowever he said the country recycles only 33 per cent of ewaste 2 per cent of construction and demolition waste 15 per cent of used oil 3 per cent of endoflife vehicle waste and 14 per cent of metal scrapThere is a huge gap and a great opportunity for the recycling industry to build a strong ecosystem Garg saidHe added that India aims to generate 50 per cent of its total installed power capacity from nonfossil fuel sources which could help reduce carbon dioxide emissions by one billion tonnesThis transition requires large amounts of critical minerals for electric vehicles solar and wind projects and battery storage systems he saidHowever most of these minerals are concentrated in a few countriesAbout 55 per cent of critical minerals are found in just 15 countries the official saidIndia imported 13 critical minerals worth USD 547 billion in 202223Looking at the overall scenario it is clear that we must invest in recycling critical minerals The role of the recycling industry is crucial Garg addedThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever