India is forfeiting significant business opportunities in recycling, missing out on thousands of crores due to processing inefficiencies within the informal sector, the government think tank NITI Aayog reported.
A series of reports by the Aayog delves into the recycling potential across various categories including e-waste, waste tyres, lithium-ion batteries, and end-of-life vehicles (ELVs), highlighting economic losses attributed to poor processing and weak regulations.
India generates substantial volumes of waste, such as 6.2 million metric tonnes of e-waste annually, expected to increase to 14 MMT by 2030, yet the country captures only 18% of its recycling potential due to inadequate formal systems. The reports propose policy and regulatory improvements to bridge this gap and capitalize on the burgeoning circular economy.