IE Seminar – Closing the loop through circularity

IE gathered experts to deliberate on the topic of closing the loop through circularity. It highlighted the need and impact that circular economy will create on businesses.

Listen to this article

MSMEs lack adaptation funds

– Vivek Venkataramani, Senior Manager, Climate Resilience Practice, WRI India

My area of focus revolves around mainstreaming adaptation as a priority agenda for government. We provide assistance in framing policies and offer technical support for their implementation. In one of our projects, we focus on specific MSME clusters like the textile cluster in Gujarat and the automobile cluster in Tamil Nadu. Our project aims to assess the vulnerability of these clusters to climate hazards, such as cyclones, floods and droughts, and identify their resilience-building needs and capability.

Comprehensive assessments and strategies
We’re conducting detailed vulnerability assessments at multiple levels, including city-wide vulnerability, high-resolution hazard mapping and enterprise-level vulnerabilities. Additionally, we’re documenting the required skills, financing options, technological innovations, and upgrades necessary to enhance resilience within these clusters.

The scarcity of liquid cash and insurance
Through our research, we’ve observed various challenges faced by MSMEs, particularly regarding access to liquid capital for coping with sudden climate-related disasters. Additionally, we’ve found that many small enterprises lack insurance coverage for structural damages caused by climate-related disasters. There is a gap in policy responses at both state and central levels regarding resilience-building and adaptation for MSMEs. While there are incentives and funding available for skilling, mitigation and environment-friendly technologies, dedicated schemes for adaptation and resilience-building are lacking. To address these gaps, we’re collaborating with MSME associations and larger manufacturers to advocate for such focussed schemes. We’re also exploring how circular economy principles can alleviate the financial burden on MSMEs by promoting reuse of materials and resource efficiency.

Latest

Industrial Economist – End of an Epoch

Industrial Economist was founded with a vision to not...

India will be $ 55 trillion economy by 2047 – Krishnamurthy Subramanian, former CEA

Krishnamurthy Subramanian, Executive Director at the International Monetary Fund...

Swelect to invest Rs 500 crore for expansion and cell manufacturing

This will allow the company to cater on a...

A survey of startups in Tamil Nadu

“In the past five months, we’ve actively helped startups...

Newsletter

Don't miss

Industrial Economist – End of an Epoch

Industrial Economist was founded with a vision to not...

India will be $ 55 trillion economy by 2047 – Krishnamurthy Subramanian, former CEA

Krishnamurthy Subramanian, Executive Director at the International Monetary Fund...

Swelect to invest Rs 500 crore for expansion and cell manufacturing

This will allow the company to cater on a...

A survey of startups in Tamil Nadu

“In the past five months, we’ve actively helped startups...

Super Auto Forge: Crafting Precision for 50 years…

A Golden Forge For the fiscal year, SAF registered a...

Industrial Economist – End of an Epoch

Industrial Economist was founded with a vision to not only report on the economic landscape but also to contribute meaningfully to the discourse shaping...

India will be $ 55 trillion economy by 2047 – Krishnamurthy Subramanian, former CEA

Krishnamurthy Subramanian, Executive Director at the International Monetary Fund and the former Chief Economic Advisor, GoI, launched his book India@100: Envisioning tomorrow’s economic power...

Swelect to invest Rs 500 crore for expansion and cell manufacturing

This will allow the company to cater on a global scale as also facilitate backward integration in the value chain. The expansion is expected...