Exploring factors influencing circular economy adoption and firm-level practices in the agribusiness sector: an exploratory study of Indian firms

The adoption of circular economy practices in the Indian agribusiness sector has emerged as a significant area of interest due to its potential to promote sustainability and optimise resource utilisation. This exploratory study delves into the factors influencing the integration of circular economy principles in Indian agribusiness firms. The research's primary purpose is to unveil the driving forces behind the adoption of circular economy practices and firm-level strategies, given the increasing concerns about sustainability in agriculture. By conducting qualitative interviews with a diverse group of 17 managers and academicians from agribusiness firms and institutes, this study provides a comprehensive understanding of the factors and practices associated with circular economy adoption. The study's findings reveal a categorisation of influencing factors, encompassing sociocultural, economic, technological, strategic, and organisational aspects, as well as supply chain dynamics. Furthermore, the research identifies key firm-level practices that contribute to the implementation of circular economy principles, such as collaborative partnerships, product design for durability, waste reduction and recycling, resource efficiency, and policy advocacy. In conclusion, this research contributes empirical evidence regarding the adoption of circular economy practices in the unique context of Indian agribusiness. The implications of these findings underscore the importance of supportive policies, knowledge dissemination, and capacity-building initiatives. These measures are crucial for promoting the widespread integration of circular economy practices among agribusiness firms. Ultimately, these efforts align with broader goals of environmental preservation and efficient resource utilisation, contributing to the advancement of sustainable agricultural systems and the promotion of resource circularity. This research adds valuable insights to the growing body of knowledge on circular economy practices, particularly within the Indian agribusiness sector.