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Vol VII Issue 4, October 2018
Indian Auto Recycling - The Goldmine In Junkyard
All that glitters is treasure in "Scrap".
The Indian Steel industry is moving in a fast pace, becoming the second largest producer of steel in the world; while it sounds gratifying, it does come with a price to the society in high energy usage, increase in harmful emissions and green house gases. The way out is efficient recycling of engineered goods there by saves energy, reduces emissions, conserves resources, saves foreign exchange, and creates large avenues for employment. For India being one of the fastest growing economies in the world has taken long time to foray into the structured recycling business, it is believed to be one of the most unorganized sectors in India.
Automobiles are among the most recyclable of engineered goods, offering rates of recovery up to ninety per cent. The recycling of vehicles at the end of life, in particular, presents a major challenge and a great opportunity in the Indian context. Up till now there were no regulations governing design and manufacturing vehicles for end-of-life ease of recycling, or standards regulating the operations of units engaged in breaking up old vehicles in India. Europe and Japan have stringent regulations governing these aspects.
But the recent Vehicle Scrappage Policy which has got the consent from the PM office will be implemented from April 1st 2020. This policy is going to propel for an organized sector for scrapping vehicles, which means India will be the next polestar for auto recycling especially focusing more on commercial vehicles. A treasure trove of opportunities is waiting for companies who are already in to scrap recycling as the policy get channelized there is benefits at all verticals. There is a hidden wealth waiting to be discovered out of the scrap.
Steel360 quest to know more about of auto recycling industry and policy led to industry experts whose outlook and expertise will give the readers the much awaited information; read on pg no.
Dr Sheena Abraham