CIRCULAR IS THE PATH MOVING FORWARD

Accelerating the momentum of sustainability, businesses must embrace circularity. It entails supply chains where materials are brought back into the cycle, resulting in zero waste. Circular fashion is already making ripples; it is not long before those ripples spread to the manufacturing industry.

‘‘If we could build an economy that would use things rather than use them up, we could build a future.’’ - Ellen MacArthur

For building the foundation of circularity, a fundamental change in mindset is needed. In the garment industry, the transient ownership of goods is an emerging trend. Slow fashion is increasingly replacing throw-away culture. Major companies are now using green processes in manufacturing and recycling initiatives. Environmentally conscious consumers are advocating the resale of goods. The time is ripe to bring the circular movement to manufacturing.

In the manufacturing sector, there is a large market that caters to the resale of components. Spare parts and component remanufacturing along with product refurbishment are growing. Being disorganised, it needs concerted efforts and comprehensive policies. The scrappage policy and e-waste management guidelines are the steps taken in this direction. By following high-quality recycling, the industry can reduce the outflow of material, including critical raw material. Manufacturing is a highly energy and material intensive industry. Making production processes circular will yield significant environmental gains. New-age businesses and entrepreneurs must develop business models to shift focus from product to function.

Albert Einstein once remarked, “Problems cannot be solved at the same level of awareness that created them.” It is the duty of responsible business leaders to initiate a change in perspective. Chalking out a roadmap to give impetus to a circular economy is the way to a prosperous future.?