New Delhi,  A first in Asia, the 'India Plastics Pact', which will bring together leading businesses at a national level to make commitments for building a circular system for plastics by 2030, was launched on Friday.

As many as 26 businesses committed to the Pact as founding members or as supporting organisations. The Pact that envisions a world where plastic is valued and does not pollute the environment is a joint initiative of the World Wide Fund for Nature-India (WWF India) and the Confederation of Indian Industry (CII), a release said.

"Through joint efforts by CII, WWF India, the Waste and Resources Action Programme (WRAP), UK Research and Innovation, and members of the India Plastics Pact, this first of its kind initiative in Asia will complement India's other bold initiatives in the renewables sector and efforts to limit single-use plastics," British High Commissioner to India, Alexander Ellis, said while launching the Pact at CII's 16th Sustainability Summit.

WRAP, a global NGO based in the UK, provides operational and technical support to Plastics Pacts in Europe, the Americas, Australia, and Africa and fully supports the Pact in India, the release said.

India generates 9.46 MT of plastic waste annually, of which 40 per cent is not collected; about half of all plastics produced in the country are used in packaging, most of it is single use in nature. Commitments made under the Pact aim to keep plastic packaging in the economy and out of the natural environment.

A total of 17 businesses, including major FMCG brands, manufacturers, retailers, and recyclers, have committed to the Pact as founding members, and nine have joined as supporting organisations.

The Pact's targets to be achieved by 2030 are: Ddefine a list of unnecessary or problematic plastic packaging and items and take measures to address them through redesign and innovation; 100 per cent of plastic packaging to be reusable or recyclable; 50 per cent of plastic packaging to be effectively recycled and 25 per cent average recycled content across all plastic packaging, the release said.

Arvind Wable, President, WWF India, said, "The India Plastics Pact provides a strong platform for Indian businesses to drive actionable, sustainable solutions and accelerate the transition toward a circular economy."

Commenting on the Pact, Jamshyd N. Godrej, past president, CII and WWF India, said, "Innovation, collaboration and voluntary commitments contextualised for India and led by Indian companies will help the transition to a circular economy for plastics. The Plastics Pact model offers this solution."