According to industry representatives, India’s PET recycling industry has become the world’s largest by capacity, with investments of Rs 10,000 crore in the past three years and plans to double this investment in the near future.
Bhadresh Dodhia, director of the PET Recyclers Association (Bharat), said the country recycles 95% of PET bottles every year and has a production capacity of 500,000 tons. He points to government policies such as mandating 30% recycled content plastic By 2025, packaging will drive investment.
The Indian plastic recycling market is expected to be 9.9 million tons in 2023 and is expected to grow to 23.7 million tons by 2032, with a compound annual growth rate of 9.86%. Industry leaders highlighted the role of technology, food-grade ARPET pellets and 5 million rag pickers in driving the industry’s growth.
Media Fusion’s Taher Patrawala points to private sector innovation in adopting circular economy economy models and reduce reliance on original materials. Matthew Barber of Crain Communications highlighted that India’s recycling rate of 60% exceeds the global average of 9%.
The remarks were made at the UTECH India Sustainable Polyurethane and Foam Expo and Plastic Recycling India in Mumbai, which brought together international experts, industry leaders and over 150 key exhibitors to focus on advancing the polyurethane, foam and plastic recycling industry sustainable practices.
