Amitabh Kant Urges India to Lead Industrialization Without Carbonization at FICCI Circular Economy Symposium
Jan 13, 2024: Mr. Amitabh Kant, G-20 Sherpa, Government of India, emphasized the need for India to become the first country to industrialize without carbonizing, proposing a unique model of development. Speaking at the ‘FICCI Circular Economy Symposium,’ Kant highlighted the transformative potential of transitioning to a circular economy, aligning with India’s commitments to sustainable development and climate change mitigation.
The circular economy model, as outlined by Kant, focuses on reducing waste generation, promoting local production, optimizing resources, and lowering greenhouse gas emissions. Addressing the imperative for India’s rapid growth, Kant stressed the importance of achieving a growth rate of 9-10% per annum, emphasizing the necessity of renewable energy adoption, including the production of green hydrogen.
India’s climatic advantages position it to produce green hydrogen, with Kant noting the current cost of production at $4.5 per kg and setting an ambitious national objective to reduce it to $1 per kg by 2030. Kant highlighted the global shift toward electric mobility, particularly for two, three, and four-wheelers, and underscored the need for significant improvements in energy efficiency and a heightened focus on the circular economy.
Kant emphasized the radical shift required from the current linear economic model to a circular one, fostering innovation, disruption, and reduced greenhouse gas emissions. The circular economy, organized around recycling and reusing inputs, offers substantial benefits, including environmental conservation and a sustainable mode of production.
The symposium featured insights from Dr. Michael Bucki of the European Union, who highlighted the vast potential for collaboration in the circular economy between India and the EU. Janardhanan Ramanujalu, Vice President at SABIC, stressed the importance of a circular carbon economy, focusing on carbon capture and utilization, recycling carbon-based products, energy efficiency, and material innovation.
Amit Shah, Chair of FICCI National CE Committee, emphasized the circular economy’s role in addressing urgent climate change challenges. Dr. Naresh Tyagi, Co-Chair of FICCI National CE Committee, and Chief Sustainability Officer at Aditya Birla Fashion & Retail Ltd, emphasized the importance of innovation and collaboration for industry progression toward a circular economy.
The event also witnessed the announcement of the ‘4th FICCI Circular Economy Awards’ and the release of the ‘National Unified Circularity Measurement Framework,’ highlighting the commitment to advancing circular economy practices in India.
