India is the third-largest generator of eWaste globally, says report
The Indian formal eWaste recycling market is likely to register a CAGR of 14.3% between 2023 and 2030, reaching US$144.3 million in 2030, according to a report being offered on ResearchAndMarkets. It was estimated at US$56.8 million in 2023.
The “Growth Opportunities in India’s Circular Economy of eWaste” report says that eWaste is an increasing concern in India. In 2023, India generated approximately 4.1 Mt of eWaste, representing about 6.5% of the global eWaste generation.
The country’s volume of generated eWaste is forecast to reach 7.1 Mt in 2030, growing faster than the global average.
This challenge poses a pressing need to implement circular economy strategies and engage all stakeholders in the value chain. India is the third-largest generator of eWaste globally, said the report, made available from 13 Mar.
However, only about 27.0% of its generated eWaste is processed through the formal recycling market, while the informal sector, characterized by less efficient extraction techniques, handles the majority of eWaste, lowering the recovery rates of high-value materials.
The country also has limited access to infrastructure dedicated to proper collection, processing, and recovery of eWaste, hampering the development of a well-organized large-scale eWaste circular economy value chain, according to the report. Fiinews.com
