Enablers Impacting the Circular Economy in Indian Manufacturing Industries: Modeling through a SmartPLS4-SEM Approach

The prospective social and the ecological advantages linked to the circular economy have garnered substantial interest in recent times. The purpose of this report is to pinpoint the variables affecting the adoption of CE in India manufacturing industries. To investigate the enablers that helpful CE adoption in Indian manufacturing industries, this research takes an exploratory method. A questionnaire was created and submitted to a number of industrial companies in India. The good response came to the survey questionnaire that validate the enablers. On the basis of analysis, the biggest enablers to implementing CE principles in Indian manufacturing industries, are technological enablers followed by financial enablers. The smartPLS 4 software based on variance was used to development and quantitative analysis of a model using structural equation modelling for validation of identified enablers of circular economy. This study is only concerned with the Indian manufacturing sector, rising Asian countries may be most affected by its useful conclusions. This article also identifies the challenges related to the circular economy, analyzing them from the social, economic, and environmental angles.