Minister of Steel Jyotiraditya Scindia to inaugurates 13th edition of International Conference and Exhibition, Pragati Maidan.

• Minister of Steel Jyotiraditya Scindia will inaugurate the 13th edition of International Conference and Exhibition by the Indian Institute of Metals at Pragati Maidan in New Delhi 26th August 2022.
• According to the Ministry of Steel that the conference aims at identifying long-term measures to promote circular economy to minimize dependency on extraction of natural virgin ore and prepare recommendations and approaches for the metal industry to evolve environmentally friendly, cost-effective, energy-efficient strategies, policies, and practices.
• The theme of this year’s conference is “Resource Efficiency and Circular Economy in Mineral and Metal Sectors.”

What is the circular economy?

• The circular economy is a model of production and consumption, which involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products as long as possible. In this way, the life cycle of products is extended.
• In practice, it implies reducing waste to a minimum. When a product reaches the end of its life, its materials are kept within the economy wherever possible. These can be productively used again and again, thereby creating further value.
• This is a departure from the traditional, linear economic model, which is based on a take-make-consume-throw away pattern. This model relies on large quantities of cheap, easily accessible materials and energy.