Exploring A New Pathway for Sustainable Development: ‘Sustainability-Driven Innovative Practices’ for a Circular Economy

The linear economy model of growth, which emerged globally after the Industrial Revolution, focused on 'take–make–waste' and was an unsustainable model because it did not consider the ecological footprint of economic growth. As the world recognized the challenges resulting from the depletion of natural resources, environmental degradation, and excessive carbon emissions, a call for a paradigm shift to ‘sustainability’ emerged. The ‘circular economy’ model, which emphasizes the minimization of waste and the recycling of resources to create a sustainable economic system, was globally accepted with the declaration of the UN SDG Agenda 2030. Innovations that target not only productive efficiency and cost-cutting but also aim to bridge the gaps between environmental costs and economic growth, or are ‘sustainability-driven,’ are needed to operationalize the Circular Economy principles. The paper critically reviews the concept of sustainability-driven innovative practices and the Circular Economy, and examines the trends in India in this regard.