BackCreating value via a circular economy
According to Anil Kumar Makkar, manufacturing director, JK Tyre and Industries, the circular economy in India is not a full circle yet but is definitely close
PremiumThe concluding panel discussion at the first SAP Presents Mint Sustainability Action Summit 2022 brought together leaders from several industries to share their initiatives for a circular economy. “At present, only 9% of what we take from earth is recycled and put into the value chain. If we just double this number, the climate change mitigation becomes two-fold. So, it is very important to take circular economy as a strategy because it will help reduce the resource consumption, and also address the emission at source," said Avinav Prasad, associate director, Deloitte India.
According to Anil Kumar Makkar, manufacturing director, JK Tyre and Industries, the circular economy in India is not a full circle yet but is definitely close. “The first step of starting the circular economy is to start usage of recycled material as input. Number two, would be extending the lifecycle of the products we use. Most importantly, we’ll have to make consumers aware about it," he said.
“The customer plays a very, very important role in driving circular economy. At PepsiCo, we have been undertaking campaigns to drive or promote the understanding of plastic waste management. India is a price sensitive market. Is the customer today ready to pay that premium on recycled products?" asked Juhi Gupta, head of sustainability at PepsiCo, India.
“From the consumer standpoint, mindful consumption is one of the things which is very important and so is segregation and sortation. What we have also observed through some of the campaigns which we are running across the country is that with proper awareness, there is there is an increase in collection as well as segregation of waste," said Kamlesh Kholiya, sustainability manager, Tetra Pak India.
“Today, in a lot of interventions and surveys we have done, we have figured out that there is a very high degree of desire to be sustainable in choices people make, subject to the commercial and affordability construct to be alluded to. but there is a lack of awareness for lack of information access and more importantly, traceability," said Mahesh Pratap Singh, head of sustainability, Flipkart.
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