Samriddhi 2025: 'Industry aligning with India's circular economy vision'

At the Business Standard Samriddhi event in Lucknow, industry leaders said India Inc is gradually embracing the circular economy model, noting its potential to curb pollution

Acknowledging that pollution is an inalienable part of industrial and infrastructure development, India Inc is slowly but surely aligning with the “circular economy” vision of the central and state governments. A circular economy is an economic model aimed at eliminating waste and pollution by redeploying products and materials in the process. 

Participating in a panel discussion on “Infrastructure and Ecological Balance” at the Business Standard Samriddhi Event in Lucknow on Wednesday, Uttar Pradesh Power Transmission Corporation Limited (UPPTCL) Managing Director Mayur Maheswari said the government has envisioned a circular economy road map for the industry, spanning both public and private sector entities. 

Maheswari said while the circular economy is imperative to curb pollution and preserve the environment, it also provided a lucrative opportunity to private sector companies as the "field is open" now. 

“For example, biomass pellets are used in coal-fired thermal power plants. This has a propensity to curtail the phenomenon of stubble burning, especially in the National Capital Region (NCR)," he added. 

Maheswari noted that even the municipal solid waste is being used as fuel, although the progression is rather slow at present. 

Power generation companies are working closely with the National Highways Authority of India (NHAI) to supply fly ash for construction of roads.

 

On his part, UP Pollution Control Board (UPPCB) Chairman Ravindra Pratap Singh said while industry and development are vital, there are proven mechanisms to curb pollution, especially water pollution.

 

"Earlier, the sugar industry was considered to be one of the most polluting ones, but now 80-90 per cent of the sugar sector has migrated to a circular economy concept. Most of the sugar mills have captive power plants," he added.

 

Chairman of the Indo-American Chamber of Commerce (IACC) UP State Coordination Committee Mukesh Bahadur Singh reminded that more than 500 million pilgrims visited the Prayagraj Maha Kumbh 2025, yet there was no outbreak of any disease because appropriate measures were in place.

 

"The process of development cannot be impeded, but environment loss could be minimised and pollution curbed with targeted steps," he added.

 

Singh also laid stress on creating awareness about the environment, including net zero, carbon credit, climate financing, and circular economy, etc.

 

Union Bank of India General Manager Rajesh Kumar said the bank has been providing liberal credit to infrastructure projects while offering interest subsidies to promote green projects.

 

Entrepreneur Rajat Mohan Pathak said pollution is a byproduct of development, and industrial units should be facilitated to set up treatment plants to mitigate environmental loss.