India’s next Green Revolution: How E-Waste Recycling is driving new-age Growth

– Our vision is to make E-Waste Management synonymous with green growth.- Akshay Jain, MD, Namo E-Waste

Every time an old phone is replaced, a laptop is discarded, or a battery is thrown away, a silent environmental threat grows. Today, India is the world’s third-largest producer of electronic waste, after China and the United States. “This waste can become a major source of growth  and economic empowerment in India, all that’s needed is the adoption of e-waste management equipped with better technology,” says Mr. Akshay Jain, MD of Namo e-Waste Management Ltd.

A recent NITI Aayog circular economy report says, “E-waste is the fastest-growing form of pollution in India – and also its most underestimated economic opportunity.”

Waste streams in India – including computers, smartphones, televisions, refrigerators, and batteries – are growing three times faster than municipal solid waste. They contain valuable materials such as copper, gold, palladium, and rare earth elements – but also toxic substances like lead, mercury, and cadmium. When informally dumped or burnt, these release carcinogenic gases and groundwater pollutants, creating long-term risks for both public health and agriculture.

According to the Central Pollution Control Board (CPCB), India generated approximately 1.7 million tonnes of e-waste in FY 2023-24, up from just over 0.7 million tonnes in 2018-19 – a staggering annual growth rate exceeding 25%. Broader industry studies (ASSOCHAM-EY, NITI Aayog) that include unregistered collection and disposal estimate the total volume to be over 5 million tonnes annually, projected to exceed 9 million tonnes by 2030.

Approximately 80% of India’s e-waste is currently managed by the informal sector – small-scale scrap dealers, clandestine disposers, and unauthorised workshops. These systems, while widespread and active, rely on crude methods such as open burning or acid stripping to extract metals, releasing hazardous fumes and leaving behind irretrievable residues.

According to estimates from the Ministry of Electronics and Information Technology, this unregulated approach not only harms the environment but also costs India an estimated ₹30,000-40,000 crore worth of recyclable materials every year. In contrast, the organised sector—which includes CPCB-authorised recyclers—accounts for less than 20% of the total e-waste processed. Yet, this formal sector is now rapidly expanding due to stricter policy enforcement and investors’ increasing focus on ESG-aligned businesses.

Mr. Akshay Jain, MD, Namo E-Waste, says the e-waste recycling industry in India is currently valued at approximately ₹12,000-14,000 crore (FY2024). It is projected to grow at a compound annual growth rate (CAGR) of 12-15% over the next 5 years. By 2029-30, driven by the EPR (Extended Producer Responsibility) framework and the growing demand for sustainable material recovery, this market is expected to exceed ₹30,000 crore.

Several formal recyclers are currently emerging as the backbone of India’s green industrial revolution, with Namo E-Waste being a prominent name. Its MD, Akshay Jain, says, “Our vision is to make e-waste management synonymous with green growth – where every gram of material recovered translates into jobs, clean air, and economic value.” One of the most exciting aspects of e-waste recycling is the recovery of rare earth elements (REEs) – critical for electronics, renewable energy, and electric vehicles. Namo’s advanced extraction technology recovers rare earth minerals from circuit boards and magnets, transforming hazardous waste into high-value resources. Given the global scarcity of REEs and India’s increasing reliance on imports, formal e-waste recyclers like Namo are strategically well-positioned to capitalise on rising demand and premium prices.

Industry analysts expect the market share of formal recyclers to double by 2030, with early movers benefiting the most as compliance becomes non-negotiable and informal operators are gradually phased out.

The Indian government has taken several significant steps to formalise and expand this sector, with the private sector also contributing to the creation of what is being called “India’s Circular Economy 2.0″—an ecosystem where waste is reintroduced as raw material for new production.