| Title | Analysis of circular economy barriers in manufacturing context for indian industries: a BWM ranking process |
|---|---|
| ID_Doc | 2003 |
| Authors | Sharma, M; Jain, NL; Purohit, JK |
| Title | Analysis of circular economy barriers in manufacturing context for indian industries: a BWM ranking process |
| Year | 2023 |
| Published | |
| Abstract | In the era circular economy, a nation's ability to sustainably grow its manufacturing sector is crucial for overall economic development. Therefore, in order to make the industrial sector sustainable and competitive, technologies must be developed with the circular economy in mind. Small- and medium-sized enterprises, comprising the majority of manufacturing firms in India and playing a significant role in the nation's GDP, are often considered the backbone of the economy. This research aims to reexamine the concept of a circular economy system within the manufacturing industry by conducting a thorough analysis of scientific literature. Following an extensive literature review and consultations with experts and practitioners, the study identified 37 obstacles that impede the adoption of a circular economy in the manufacturing sector of Indian businesses. The findings were measured to help with decision-making. These barriers were dispersed among six clusters. Cultural, Regulatory, Financial, Environmental, Technological, and Supply chain management are six categories of barriers into which all of those found in the literature may be classified. To validate these barriers, a survey questionnaire was formulated, and the collected data was thoroughly analyzed. Cronbach's alpha is employed to evaluate the reliability of the major barriers. The majority of the manufacturing industries in India come under the category of small and medium enterprises. A significant list questionnaires were prepared and sent to the respondents through email and through personal visits was made in nearby industries. A very mature response rate has been received against the questionnaires. An expert panel of manufacturing industry managers and technical personnel validates these barriers as affecting how developing countries adopt circular economy, assigns weights to the barriers and employs the Best-Worst Method to decide how to rank the barriers at the end. As per the findings, cultural and technical barriers pose significant challenges for the adoption of a circular economy in India's industrial sectors. Through this study, the industries are better equipped to comprehend the barriers to the circular economy and develop practical implementation plans. |
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