India’s PET recycling industry, which currently holds the top spot in terms of capacity globally, has witnessed a massive investment of Rs 10,000 crore in the last three years. Industry representatives have revealed plans to double this investment in the near future.
According to Bhadresh Dodhia, director of the association of PET recyclers (Bharat), the country has an impressive annual recycling rate of 95% for PET bottles, with a capacity of five lakh tonnes. He also highlighted the significant role of government policies, such as the mandate for 30% recycled content in plastic packaging by 2025, in driving this investment.
The plastics recycling market in India, estimated at 9.9 million tonnes in 2023, is expected to grow to 23.7 million tonnes by 2032, with a compound annual growth rate of 9.86%. Industry leaders emphasized the importance of technology, food-grade ARPET granules, and the contribution of 50 lakh rag pickers in advancing the sector.
Taher Patrawala of Media Fusion pointed out the private sector’s efforts in adopting circular economy models and reducing their reliance on virgin materials. Matthew Barber of Crain Communications also highlighted India’s impressive recycling rate of 60%, which surpasses the global average of 9%.
These insights were shared at the UTECH India Sustainable Polyurethane & Foam Expo and Plastics Recycling Show India in Mumbai, where international experts, industry leaders, and over 150 key exhibitors gathered to discuss and promote sustainable practices in the polyurethane, foam, and plastic recycling sectors.
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