New Delhi: If the 'End of Life Vehicle' policy was implemented with dated emission standards then by 2021, over 22 million vehicles will be off the road, Niti Aayog CEO Amitabh Kant said on Monday.
This would include 80 percent two-wheelers, 14 percent cars, and 3 percent each of three-wheelers and commercial vehicles. "End of Life Vehicles present a huge business opportunity for growth, wealth creation and jobs," he added.
Speaking at the '3rd Edition of Circular Economy Symposium 2019,' Kant said that by 2050, world population would reach 9.7 billion of which 3 billion people would prosper to middle-class consumption level. This would require 71 percent more resources per capita, thereby raising total mineral and material demand from 50 billion tonnes in 2014 to 130 billion tonnes in 2050.
He stressed upon the need for promoting non-government organisations to spread awareness and developing Circular Economy as a national agenda. "This initiative should be firmly supported as these non-government organisations operate at grass-root level and can be useful agents of change," said Kant.
Kant aid that Circular Economy has the potential to generate 1.4 crore jobs in next 5-7 years and create lakhs of new entrepreneurs. He added that sustainable development and resource circularity is the need of the hour to implement Circular Economy.