Facts you won’t believe around resource constraints in India | Ep. #42

<p>Hello and welcome to Circular Business Podcast, a series where we look into Circular Economy from the Indian context. I’m your host and dost Sreepriya Sridharan and today I’m gonna share with you some mind boggling facts you won’t believe around resource constraints in India.</p> <p>I came across this 2018 report “<a href="https://ficcices.in/pdf/FICCI-Accenture_Circular%20Economy%20Report_OptVer.pdf">Accelerating India’s Circular Economy Shift</a>” by Federation of Indian Chambers of Commerce and Industry&nbsp;FICCI &amp; Accenture and the facts mentioned by them were eye-opening for me therefore I wanted to bring those facts to you ASAP!</p> <ul> <li>The reports introduction opens with a graph of resource use v/s economic development (resource use on Y-axis, economic dev on X-axis) and one key takeaway for all of us from that is; as an economy grows, the resource consumption per capita increases significantly.</li> <li>So just imagine its implication on a developing Indian economy whose population is over 1 billion people! Are we well positioned to meet the expected rise in this resource demand?</li> </ul> <p>Today in the global economy, developed nations have already set an example of environmentally toxic business practices therefore emerging economies of today may not be able to adopt the traditional growth models as it could strain the finite pool of natural resources. It’s time to leap frog to better business models. Its time for adopting to new normal here as well; Don’t you think so?</p> <p>In order to renovate the traditional business process in the economy, we must prioritize where to begin to trigger maximum impact.</p> <p>And I liked the way how this report has narrowed down on the priority list.</p> <p>They considered 3 parameters:</p> <p>1) Resource contribution to economic activity (measured by share in GDP)</p> <p>2) resource contribution to India's import bill,</p> <p>3) resource impact on environment (measured by share in municipal solid waste).</p> <p>The sweet spot between these three pa