MUMBAI (Scrap Register): India can extract $1 billion worth of gold from mining of urban e-waste, according to Economic Survey 2018-19.
Global E-waste Monitor, 2017 estimated that India was the fifth largest producer of e-waste by generating nearly 2 million metric tons of e-waste in 2016 and can earn the value of raw materials to the tune of 55 billion Euros if e-waste was properly mined. A great potential exists for RE in this sector by utilizing recycling opportunities that exist.
Various studies have analyzed the economic impact of effective Resource Efficiency (RE) strategy and identified that `6000 crore can be saved in the manufacturing sector with its implementation, the Survey tabled in the Parliament on Thursday said.
For the formulation of effective RE strategy for the country, a detailed assessment for each of the sector contributing to the national income, its consumption of the raw materials as key inputs and its import dependence, volume of wastes/scrap generated and recycled and availability of relevant technologies must be undertaken, the Economic Survey said.
The Economic Survey also highlighted that the country can also generate 10 million tonnes of steel scrap from the End of Life vehicles by 2025. Indian auto industry is fourth largest in the world.
Studies estimate that Indian auto industry will consume around 70-80 million tonnes of iron and steel by 2030 which is around 70-80 per cent of the total steel production capacity in India, the Survey said.
Research suggest around 2,18,95,439 vehicles will reach End of Life by 2025 which would generate more than 10 million tonnes of steel scrap, it said.
