The circular economy is clearly beneficial to sustainability efforts, but it also offers economic benefits to organizations. Moreover, consumers are increasingly demanding more sustainable practices from the brands with which they interact, and expect to see positive outcomes for the planet through their purchases. The innovation to enable circularity will drive new opportunities for growth, greater resource security and sustainability and a more competitive economy. However, the circular economy model could provide a strong framework for development and a basis for setting principles to guide business innovation, policy, and education. Therefore, the paper largely focuses on the circular economy and its growth on economic development and the methodology of the study is purely based on the secondary data.