Circular Economy: Definition, Importance and Aspects

In recent years, the Indian government is passing laws and policies to promote the circular economic model. According to the report by Chatham House, a London-based Royal Institute of International Affairs, India is leading the developing nations in circular economy investments that are aimed at pursuing sustainable and climate-resilient growth and has an opportunity to save as much as 11% of its GDP annually by 2030. A clear and defined strategy to promote the circular economic model is necessary for the positive outcomes that can be acquired from the same.

What is a circular economy?

• The circular economy or circularity is an economic system that aims to eliminate wastes and ensure continuous use of resources.
• It employs reuse, sharing, repair, refurbishment,