India – ‘Thanks to the government’s initiative to introduce better policies for organised and mandatory car recycling, India has potential to become one of largest car recycling regions,’ according to SteelMint Events. The rise of recycling-friendly legislation is one of the topics to be discussed at the ‘Scrap Recycling ‘ Emerging Markets’ conference held on 9-10 September in New Delhi.
The number of cars sold in India is projected to grow from 2.2 million vehicles back in 2010 to 10.6 million units by 2020. Currently, some 28 million vehicles are said to be over 15 years old and ‘ready for scrapping’ – while there are nearly 8.5 million cars registered in the New Delhi area alone. Luckily, the proper management of end-of-life vehicles (ELVs) is recognised as an ‘increasingly important issue’ in India, the event organiser notes.
The government has recently proposed offering consumers an incentive of 25 000 lakh (or US$ 375) for a passenger car handed in for scrapping in the hopes to boost recycling rates. Union Minister Nitin Gadkari expects the move will see India’s automobile industry grow by a factor of four in the next five years.
Besides, the first memorandum of understanding with Mahindra Intertrade has been signed to set up an auto shredding plant – with direct plans to build more than 30 facilities in the next couple of years.
SteelMint Events notes that the conference aims to provide local insights in a global context and serves as an excellent networking opportunity for various players across the value chain ranging from recyclers and car manufacturers to recycling technology specialists to battery and component suppliers.
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