I firmly believe that circular economy initiatives hold immense potential to reshape India’s climate policy and provide a sustainable pathway toward achieving our environmental and economic goals. By promoting resource efficiency, minimizing waste, and encouraging recycling and reuse across industries, the circular economy directly aligns with India’s commitment to reducing greenhouse gas emissions, lowering resource dependency, and fostering sustainable growth. Integrating circular economy principles into India\'s climate policy is not only essential but also an opportunity to transform sectors such as manufacturing, agriculture, and urban development. This approach will support India’s broader decarbonization objectives by easing pressure on natural resources and reducing the carbon footprint of linear economic models. The establishment of the Anusandhan National Research Foundation (NRF) further reinforces this effort by enhancing research and development in circular economy practices and promoting innovation in sustainable technologies. The NRF will play a pivotal role in fostering interdisciplinary research and industry collaborations, creating a knowledge ecosystem that will drive the adoption of circular economy principles across sectors. This is particularly important for India’s ambitious climate targets, as it ensures that our strategies are underpinned by cutting-edge research and technology-driven solutions. In terms of collaboration, the potential between India and Germany in this space is highly promising. Germany’s leadership in circular economy frameworks, waste management, renewable energy, and sustainable manufacturing offers significant scope for knowledge sharing and technology transfer. Joint efforts in research, alongside capacity building and skill development, especially for small and medium enterprises (SMEs), will accelerate India’s transition. Collaborative work on green financing mechanisms, such as green bonds and climate funds, will further unlock capital for circular economy projects. Advancing a circular economy is integral to India’s sustainable development agenda, and collaboration with Germany offers a unique opportunity to accelerate our shared goals of environmental sustainability and economic resilience. Together, through initiatives like the NRF and our joint efforts with Germany, we can ensure a greener future for both nations.

Circular and resource-efficient practices will play a transformative role in India\'s solar energy sector, particularly regarding the critical minerals essential for solar technologies. As India accelerates its renewable energy transition, ensuring the sustainable use of minerals such as lithium, cobalt, and rare earth elements is vital for both energy security and environmental sustainability. Circular economy practices provide a pathway to minimize resource extraction, reduce environmental impact, and enhance the resilience of the solar energy supply chain. Critical minerals are essential for manufacturing solar panels, batteries, and other renewable technologies, yet their availability is limited, and extraction poses environmental and social challenges. By embracing circular principles—such as recycling, reuse, and remanufacturing—India can reduce dependency on virgin materials, mitigate the environmental footprint of solar technologies, and establish a sustainable resource loop. The concept of One Sun One World One Grid put forward by our Honourable Prime Minister in the first assembly of International Solar Alliance can be frutified effectively if India adopts a strictly circular and resource efficiency framework for solar power development. Investment in R&D is essential to advance material recovery processes and develop efficient extraction technologies. Collaborating with research institutions, the private sector, and international partners will help India access innovative recycling solutions. Skilled labor is key to supporting the growth of recycling and remanufacturing industries. Establishing training programs and upskilling initiatives will ensure a capable workforce for this sector. Additionally, fiscal and regulatory incentives, such as tax benefits and subsidies, will encourage businesses to adopt sustainable practices and promote the use of recycled materials. By integrating circular economy principles into the solar energy value chain, India can reduce resource dependency, lower emissions, and support long-term sustainability, positioning itself as a global leader in sustainable resource management.

As India balances its development imperatives with its climate commitments, achieving its nationally determined contributions (NDCs) and transitioning to a low-carbon, climate-resilient economy while also carrying the aspirations of 1.45 billion people of India to become a developed nation by 2047, it will require substantial and predictable financial support. While the principles of intergenerational equity guide us that the developed nations who have exhausted their carbon quotes to uplift their economy earlier must fund the transitions in the countries aspiring to become developed in next few decades, the progress is far from satisfactory. The various COPs have indicated the intent but not action as far as climate finance for developing world is concerned and hopefully, this will change in the future. For this to happen, a transparent and accountable climate finance framework is essential. The NCQG, replacing the current $100 billion goal, must reflect the evolving climate needs of emerging economies like India. Mobilizing adequate and timely finance is crucial for both mitigation and adaptation, given India’s vulnerability to climate impacts. India, as a developing country, requires not just a greater quantum but also easier access to funds. Streamlining international processes and ensuring direct and efficient finance flows will support implementation on the ground. Concessional finance is critical to prevent climate action from straining India’s fiscal sustainability or development goals. Discussions around debt-for-climate swaps and grants, rather than loans, may serve as key to mitigating debt risks while advancing climate action. Domestically, India must strengthen its climate finance ecosystem. Mobilizing private capital through blended finance mechanisms is essential for scaling investments in climate-resilient infrastructure. Effective deployment of these funds requires capacity building and technology transfer, supported by global partnerships.