Natural Resources Consumption To Grow Further On Increasing Population, Rapid Urbanization And Growing Aspirations

India's Natural resources material consumption is expected to increase further to provide for an increasing population, rapid urbanization and growing aspirations, according to a latest update from the Ministry of Environment, Forest and Climate Change released Draft National Resource Efficiency Policy. Natural resources form the backbone of any economic development. India, as one of the fastest growing economies with GDP at 2.6 trillion USD, has increased its material consumption to six times, from 1.18 billion tonnes (BT) in 1970 to 7 BT in 2015. Enhancing resource efficiency and promoting the use of secondary raw materials has emerged as a strategy for ensuring that the potential trade-off between growth, resource constraints and environmental well-being can be minimized.

The ministry says that the Draft National Resource Efficiency Policy (NREP) envisions a future with environmentally sustainable and equitable economic growth, resource security, healthy environment (air, water and land), and restored ecosystems with rich ecology and biodiversity. The Draft National Resource Efficiency Policy is guided by the principles of (i) reduction in primary resource consumption to 'sustainable levels, in keeping with achieving the Sustainable Development Goals.

Powered by Capital Market - Live News