Circularity can be understood as a concept that avoids the waste generation and rather focusses on value retention by refurbishment/ recycling/ reusing the product or by utilizing it in such a way that the products of today serve as raw materials for future products. The circular model focusses on removing the “end-of-life” concept and its benefits extend not just environmentally but also economically. India could play a central role in leading the change to circular economy, and benefit immensely from it in a holistic manner. The Ellen MacArthur Foundation pegs India’s annual benefits at ₹40 lakh crore (US$ 624 billion) in 2050 compared with the 2016 development path – a benefit equivalent to 30% of India’s current GDP. This conclusion rests on high-level economic analysis of three focus areas key to the Indian economy and society: cities and construction, food and agriculture, and mobility and vehicle manufacturing. In addition to creating direct economic benefits, a circular economy development path, would lead to 44% lower greenhouse gas emissions in 2050 compared to the current development path. The recent vehicle scrappage policy by the Central Government of India can also be seen as a step in this direction.