Cyient, eolos and NASSCOM discuss growing relevance of circular economy principles for businesses
New Delhi, Feb 16 Technology and digital transformation can help enterprises grow their business in a sustainable and environment-friendly manner without impacting profits, this and more was discussed in a LinkedIn session held between Global engineering and technology solutions company Cyient, industrial consultancy and investment firm eolos, and NASSCOM.
Cyient, eolos and NASSCOM said technology and digital tools will play a crucial role in supporting industries as they transition towards more sustainable business practices. The LinkedIn Live session on Advancing the Circular Economy through New Business Models and Practices also discussed how digital strategies can empower enterprises and manufacturers toward profit while simultaneously looking after the interests of people and the planet.
"Intervention of technology can help us reach our carbon emissions target five to seven years ahead of the 2050 timeline. We plan to develop more engineering and consulting practices that can offer solutions on traceability, material engineering in the form of reduction and reuse, obsolescence management, and supply chain including packaging, disposal, and waste management," Karthik Natarajan, Cyient's President and COO.
Sangeeta Gupta, Senior VP and Chief Strategy Officer at NASSCOM, added, "There is a pressing need to rethink how we design products that can be 'made to be made again.' Transitioning toward a circular economy represents a systemic shift that can generate long-term gains, create business and economic opportunities, and provide environmental benefits. Digital technology has the power to support this transition by radically increasing virtualization, dematerialization transparency, and feedback-driven intelligence."
Cyient, in association with eolos, recently announced the launch of its "Design for Circularity" Consulting and Engineering practice that aims to support industries transitioning toward greater sustainability. With proven expertise in engineering and design across several industries globally, Cyient is ideally placed to spearhead the sustainability movement. It can leverage its rich experience and technical skills to guide businesses as they work toward reducing their carbon footprint for a more sustainable future.