FICCI_Circular EconomyReleased during the Circular Economy Symposium 2018 edition, the report provides valuable insights on Circular Economy potential and opportunities for India.
Report highlights:
• Global circular economy potential is approx. $4.5 trillion. In India, a value opportunity of $0.5 trillion exists representing 7% of total value. However, this is a conservative measure as businesses usually report an increase in 10-15% when they adopt circular models.
• According to the report, 5 factors will be critical to accelerate circular models in India – greater awareness, disruptive technologies, enabling policy landscape, innovative funding models, and collaborations and partnerships.
• 5 distinct CE models - Circular Supply Chain, Product Service System, PLC Extension, Recovery & Recycling, Creation of Sharing Platforms
• Companies should analyze risks & opportunities with circular models, assess the potential value creation especially in concert with digital (& other technologies), identify shifts in capabilities required to manage the transitions, and develop visions plus short term and long-term goals that capture low hanging fruits but also allow companies to be prepared for future.