Karnataka's Pioneering Circular Economic Policy: A Green Blueprint for Construction

Karnataka is set to introduce India's first circular economic policy, mandating 20% of construction materials to be sustainable. The policy, discussed at the Propagate 2024 summit, aims to position Bengaluru as a leader in proptech and sustainable development, with collaboration between the government and real estate sector being emphasized.

Karnataka is pioneering India's transition to a circular economy with an upcoming policy mandating that 20% of all construction materials be sustainable. The announcement, made by State Minister Priyank Kharge at the Propagate 2024 summit, reflects a strategic shift towards reducing waste and combating climate change.

The summit, focusing on proptech, showcased discussions on the latest technology trends and their impact on urban development. Leaders emphasized the urgent need for collaboration between government and the real estate sector to foster an environment where innovation and sustainability intersect.

Karnataka's commitment to leveraging technology for sustainable growth was further highlighted by Amit Kumar from Kotak Bank. He advocated for the integration of India's tech stack to streamline processes in real estate, utilizing AI and blockchain for transparency and efficiency. With a strong ecosystem in place, Karnataka aims to lead in building smarter, sustainable cities.

(With inputs from agencies.)