India’s policy framework to promote the Circular Economy is based on a multi-pronged approach that includes regulatory measures, financial incentives, awareness campaigns and capacity building.
National Resource Efficiency Policy (NREP)
One of the most important policies to achieve the goal of a Circular Economy is the National Resource Efficiency Policy. It was launched in 2019 with the objective of promoting sustainable production and consumption patterns, enhancing resource efficiency and reducing the environmental impact of economic activities. The policy includes measures to encourage the adoption of circular business models, such as product-as-a-service, leasing and sharing and promotes the use of recycled materials.
Swachh Bharat Mission (SBM)
This is another critical policy intervention when it comes to aspects of waste segregation and recycling. The Swachh Bharat Mission was launched in 2014 with the objective of promoting cleanliness, hygiene and waste management. The mission includes initiatives to promote waste segregation, recycling and composting and aims to make India a “zero-waste” country.
Atal Innovation Mission
Atal Innovation Mission was launched in 2016 to promote innovation and entrepreneurship in the country. It includes initiatives to support the development of circular business models and encourage the adoption of sustainable technologies.
In addition to these policy initiatives, a number of interventions that revolve around financial incentives for the efficient utilisation of resources have been made. The Union Government has implemented various financial incentives to encourage the adoption of circular business models and promote sustainable consumption patterns. These incentives include tax benefits, subsidies and low-interest loans to the recycling industry.
National Green Hydrogen Mission
A budget of Rs 19,700 crore has been allocated for the National Green Hydrogen Mission. This mission aims to support the transition of the economy towards low carbon intensity, reduce reliance on fossil fuel imports and position the nation as a technological and market leader in this emerging industry.
As part of the GOBARdhan Scheme, 500 new “waste to wealth” plants arel being established, comprising 200 compressed biogas plants and 300 community/cluster-based plants.
Bhartiya Prakritik Kheti Bio-Input Resource Centres
The Union Government plans the transition of one crore families to natural farming by establishing 10,000 bio-input resource centres under the Bharatiya Prakritik Krishi Paddati, which has been scaled up as National Mission on Natural Farming.
A Rs 1000-crore Green Fund has been created to invest in circular economy, renewable energy and other projects aimed at mitigating climate change impact.
StartupTN offers special packages of assistance for Green Tech Startups (Startups in the fields of Sustainability, Climate Change, Renewable Energy, and Circular Economy). The package includes funding, training and mentorship. The assistance under TANSEED has been enhanced from Rs. 10 lakh to Rs. 15 lakh.
Tamil Nadu has implemented a scheme to promote circularity in the State’s leather clusters for solid waste management.
In an attempt to control indiscriminate disposal of e-waste, the Tamil Nadu Pollution Control Board has licensed four e-waste processing facilities and 38 waste dismantlers in the State.