The market size of bio economy in India has witnessed a double-digit growth of approximately 26% from 2014 to 2023. As the same stood at USD 10 Billion in 2014 & has grown to USD 80 Billion in 2023. It has increased by 8 times over the last 9 years and is further anticipated to reach as mark of USD 300 Billion by 2030. Infact, India aims to be among the top 5 bio-manufacturing hubs by 2025. This indicates that there exists a serious business case for the players in the bio waste management segment in India, especially agricultural waste. It is pertinent to note that India annually produces about 683 Metric Tonnes of crop waste & an estimated 682.6 Metric Tonnes of agricultural waste including both edible crop production & surplus materials. Infact, nearly 62 Million Metric Tonnes of solid waste is generated in India annually, of which only 53% is treated, opening business opportunity for the incumbents & new entrants to monetize the remaining 47%. Government of India launched the Swachh Bharat Mission-Urban (SBM-U) on October 2, 2014, with the objective to scientifically process all the Municipal Solid Waste (MSW) generated in the country. To carry forward the progress made, Swachh Bharat Mission (SBM-U) 2.0 has been launched on October 1, 2021, for a period of five years, up to October 1, 2026, with a vision of achieving Garbage Free Status for all cities through 100% source segregation, door to door collection and scientific management of all fractions of waste, including safe disposal in scientific landfills.
India's Waste to Wealth Mission is driving transformative advancements in waste management, aiming to convert waste into valuable energy resources. With urbanization escalating, the volume of waste is projected to reach 150 Million Tonnes by 2030. Through the Swachh Bharat Mission 2.0 government offers central assistance to accelerate source segregation, waste processing, and reduction initiatives. The market for solid waste management alone present 100 opportunities and poised to grow to USD 2.04 Billion, given the generation of 1.45 lakh tons per day of municipal solid waste in urban areas. Additionally, sewage collection, treatment, and disposal systems present 501 opportunities valued at USD 12.43 Billion. This expansion presents significant investment opportunities for those looking to participate in India's evolving waste management landscape, contributing to both environmental sustainability and economic growth.
E-waste in India is another such waste stream that is likely to offer a market size of USD 260 Billion by 2040. According to CPCB e-waste generated in the country from twenty-one (21) types of EEE notified under the E-Waste (Management) Rules, 2016 as of March 2022 & March 2023 was estimated as 13,46,496.31 Tonnes and 16,01,155.36 Tonnes respectively, but only 30% of this waste was processed. However, Ministry has comprehensively revised the previous set of Rules and notified the E-Waste (Management) Rules, 2022 in November, 2022 and the same is enforce since 1st April, 2023. These new rules intend to manage e-waste in an environmentally sound manner and put in place an improved Extended Producer Responsibility (EPR) regime for e-waste recycling wherein all the manufacturer, producer, refurbisher and recycler are required to register on portal developed by CPCB. The new provisions would facilitate and channelize the informal sector to formal sector for doing business and ensure recycling of E-waste in environmentally sound manner. Provisions for environment compensation and verification & audit has also been introduced. These rules also promote Circular Economy through EPR regime and scientific recycling/disposal of the e-waste.
