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14 May 2018
 |
| NITI Aayog CEO Amitabh Kant (The Total Investment & Insurance
Solutions) |
India needs to grow at about 10 per cent annually for the next three
decades to be able to meet the ever-rising demands of its growing population,
NITI Aayog CEO Amitabh Kant said today. .The Total Investment & Insurance Solutions
This order of growth however will not be achieved if the
business-as-usual approach to the use of scarce resources continues, he
cautioned.
He said that for reducing dependence on fossil fuels in transportation,
a NITI Aayog analysis suggests that the way forward is the use of bio-fuels.
"We are giving a big push to electric vehicles in a bid to conserve
exhaustible natural resources and bring about resource efficiency,? Kant said
at FICCIs Circular Economy Symposium-2018 here.
He also underlined the need to embed the principles of circular economy
in Indias school education system. .The
Total Investment & Insurance Solutions
A circular economy, in contrast to the make-use-dispose model of the
linear economy, focuses on use of resources for longest possible time as also
recovering and regenerating products and materials at the end of their life
cycle.
Noting that the government needs to enable regulatory framework for
circular economy, he said: "We should incentivise use of renewable
material for construction sector." .The Total Investment & Insurance Solutions
Kant also stressed that the government needs to push the limits of the
circular economy and make it a mass movement.
According to FICCI-Accenture study, which was released today by Kant, by
adopting circular business model, India could reap a reward of between USD 382
to USD 697 billion by 2030. .The Total
Investment & Insurance Solutions
The report pointed out that the circular economy through its innovative
business model, offers a unique opportunity to decouple growth from resource
requirements. .The Total Investment
& Insurance Solutions
According to the report, five factors will be critical to accelerate
circular models in India -- greater awareness, disruptive technologies,
enabling policy landscape, innovative funding models and collaborations and
partnerships.The Total Investment &
Insurance Solutions
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