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Sustainability Has Led to Most Economies Banning the Use of Plastic. a Critical Analysis of This Decision on the Profitability of Small, Medium, and Micro Enterprises in India
Summary
This analysis evaluates the economic impacts on small and medium enterprises in India from bans on single-use plastics. While acknowledging that plastic bans increase costs for businesses, the author argues that reducing plastic consumption is necessary to prevent the environmental and health harms — including microplastic pollution — that result from uncontrolled plastic use.
The paper analyzes the cost-benefit involved in the banning of plastics.Most governments have just imposed a ban on single-use plastics which even though, not completely being followed has led to an increase in the price of consumables.Once the whole gambit of plastic products is banned, the impact on cost is likely to be even more acute.Despite this, it is important to ban the product as it is a complete disaster for man, animals, and the environment. RESEARCH QUESTION:The research paper would attempt to analyze and understand the concept of sustainability considering the circular economy with respect to the environment.Along with this, the impact of banning the use of plastic would be researched on the balance sheet of small, medium, and micro enterprises in India.This would be studied especially after the government of India in varying degrees banned the use of plastic.