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Circular economy has the potential to generate 1.4 crore jobs: Niti Aayog CEO 

The Economic Times , Jun 18, 2019

Circular economy has the potential to generate 1.4 crore jobs in next 5-7 years and create lakhs of new entrepreneurs, said Niti Aayog CEO Amitabh Kant on Monday.

Kant who was speaking at an event organised by an industry body stressed upon the need for promoting non-government organizations to spread awareness and developing circular economy as a national agenda.

“This initiative should be firmly supported as these non-government organisations operate at grass-root level and can be useful agents of change,” he said.

The Niti Aayog CEO highlighted that by 2050, world population would reach 9.7 billion of which 3 billion people would prosper to middleclass consumption level.

“This would require 71% more resources per capita, thereby raising total mineral and material demand from 50 billion tonnes in 2014 to 130 billion tonnes in 2050,” he added.

Kant observed if the ‘End of Life Vehicle’ policy was implemented with dated emission standards then by 2021, over 22 million vehicles will be off the road. This would include 80% two-wheelers, 14% cars, and 3% each of three-wheelers and commercial vehicles.

“End of Life Vehicles present huge business opportunity for growth, wealth creation and jobs,” he added.

 

 

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Event:

 Circular Economy Symposium