Concept of circular economy can be a key step in solving many of our problems: PM Modi

New Delhi: Prime Minister Narendra Modi said on Friday (February 19) the concept of the circular economy can be a key step in solving many of our problems while addressing the India-Australia Circular Economy Hackathon Award Ceremony.

The Prime Minister said, "the concept of the circular economy can be a key step in solving many of our problems. Recycling, reusing, eliminating waste, and improving resource efficiency must become part of our lifestyle."

PM Modi said that "This hackathon saw innovative solutions from India and Australia. These innovations will inspire our countries in taking circular economy solutions. We must now also explore ways to scale and incubate these ideas."

Addressing the valedictory function of India-Australia Circular Economy Hackathon, PM Modi said consumption-oriented economic models have put a great strain on the planet, adding "We must never forget that we are not the owners of all that Mother Earth has to offer, but merely its trustees for all the future generations to come."

Stressing that it is not enough to make production processes more efficient and less polluting, Modi said no matter how fast or slow one drives, if the direction is wrong, then one is bound to reach the wrong destination. "And so, we must set the right direction," he added.

The Prime Minister called for looking at consumption patterns, and how their ecological impact can be reduced. Noting that this is where the concept of a Circular Economy comes in, Modi said the concept can be a key step in solving many of our challenges.

Recycling and reusing things, eliminating waste, and improving resource efficiency must become part of our lifestyles, the prime minister asserted. "This hackathon has seen innovative solutions from Indian and Australian students, startups, and entrepreneurs. These innovations show your commitment to the philosophy of circular economy," he said.

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"I have no doubt that your innovations will inspire our two countries to take the lead in circular economy solutions," Modi said. Also, ways must be explored to scale-up and incubate these ideas, Modi said.

Notably, circular economy implies reusing waste back into the production cycle to make new products and uses instead of wasting such materials with embedded resources.

India-Australia partnership will play Important role in shaping post-Covid world

The Prime Minister said that a strong India-Australia partnership will play an important role in shaping the post-Covid world. The statement came a day after Australian Prime Minister Scott Morrison vowed to move ahead with his government`s proposed laws that will ensure the US media tech giants like Facebook pay for publishing news media content. 

Incidentally, the Modi government is also pushing back against the misuse of the US social media platforms for mobilising violence over domestic reforms in India.

On Thursday, Modi had spoken to Australia Prime Minister Scott Morrison on the phone. Both the leaders, while reiterating their commitment to consolidate their comprehensive strategic partnership, discussed regional issues of common interest. The two looked forward to working together for peace, prosperity, and security in the Indo-Pacific.

In June last year, Prime Minister Modi and Morrison had discussed the possibility of organising a hackathon on the circular economy. Modi said he was glad the idea was realised so soon.

The hackathon has witnessed innovative solutions from Indian and Australian students, startups, and entrepreneurs.