NEW DELHI:India’s electronics sector is ready to harness $7 billion untapped income by 2035 by way of round enterprise mannequin and coverage pathways, trade stakeholders mentioned right here on Monday.
Present commitments and targets set the projected market measurement for these round fashions at $13 billion in 2035.
But, the full addressable market, achievable by means of the fitting private and non-private actions, can attain an astounding $20 billion, revealing an untapped potential of 35 per cent, in response to the report by the India Mobile and Electronics Affiliation (ICEA).
Alkesh Kumar Sharma, Secretary, MeitY, mentioned that embracing the round economic system and sustainable development is pivotal as India’s useful resource consumption is surging.
“The report resonates with the federal government’s dedication to India-centric round enterprise fashions. It evaluates readiness, identifies alternatives, and proposes evidence-based insurance policies, propelling us in the direction of accountable useful resource administration and the 4Rs — reuse, restore, get well and re-manufacture,” mentioned Sharma.
Three core enterprise fashions — Restore, Resell, and Recycling — are already thriving in India, predominantly pushed by the casual sector.
Round 90 per cent of assortment and 70 per cent of recycling are dealt with by this aggressive sector.
Nonetheless, solely 22 per cent of collected e-waste is managed by the formal sector, revealing room for enchancment, the report talked about.
Pankaj Mohindroo, Chairman, ICEA, highlighted the longer term potential of India’s electronics sector as a world manufacturing hub.
“I’m assured that the electronics trade would facilitate sustainable round economic system practices to make sure a sustainable inexperienced future for the generations to come back,” Mohindroo mentioned.
