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The demand for resources is increasing in India because of growth, changing lifestyles, and aspirations of people for improving lifestyles, but the major challenge for the economy is to provide these economically without hampering the ecology and society negatively. The negation of externalities resulting from the use of resources is the major challenge for the policymakers along with providing balanced developmental avenues to the society. The framework to achieve efficiency in resource use can be appropriately designed through innovative ways and policies. The Indian economy over the last few years has clearly moved to controlled regulation from command through the practice of economic instruments for regulations. The policy adopted by India to achieve circularity includes the financial support and guidance for research and development, formulation of standards like ECOMARKS, public procurements, and certification and self-regulation, which are discussed in the chapter.

This paper aims at identifying the main processes in the circular economy based on review of definitions given by different eminent researchers. These processes can be adopted and implemented by business entities and policy makers to achieve the desired effects. These effects may include not only environment but also economic and social. These processes may be practiced by businesses to achieve circularity and shift from the traditional linear business model to a circular one. Based on understanding of definitions of circular economy, it is necessary to provide a detailed note of processes in circular economy to conceptualize how stake holders can practice them in actual. This paper aims to identify and characterize the processes in circular economy and then conceptualize the anticipated impacts through using these processes in business models in different sectors in the economy.

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The ongoing pandemic has drastically affected the Bay of Bengal countries. Greater cooperation is suggested as these countries are fighting against the common problem and challenge of the coronavirus pandemic. Regional cooperation has become important to overcome the barriers that are mainly pandemic driven which has resulted in an increase in the cost of production and trade in the region. The chapter discusses the benefits that India is likely to get with higher integration with the immediate neighbouring countries with special reference to BIMSTEC region. The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) region is a dynamic region with trade as the driver of growth. The region is often overlapped with SAARC regional grouping with almost similar members. BIMSTEC gained its lost recognition in the year 2016, due to its high growth potential to develop sustainably.