Government's norms for e-waste management will lead to a formal market in this area, attracting more investments and creating jobs, an IFC consultant said today.
The Ministry of Environment, Forest and Climate Change has notified the E-Waste Management Rules, 2016 in supersession of the e-waste (Management & Handling) Rules, 2011.
International Finance Corporation (IFC), a member of the World Bank Group, and Karo Sambhav, a e-waste producer responsibility organisation (PRO), hosted a sensitisation workshop to facilitate an interactive discussion around the current and future scenario of e-waste in India.
Ronojoy Sircar, Consultant, Advosiry Services, IFC said, the e-waste management Rules 2016 have given the e-waste management sector an opportunity to not only develop a sustainable ecosystem but also create a formal market that will attract investment and grow employment.
"The current perception that e-Waste is solely a matter of compliance should evolve into an understanding that e- waste, if managed strategically, is a resource rich waste stream capable of self-sustaining itself and generating value," he said.
In a joint statement, IFC and Karo Sambhav said that India is the fifth largest producer of e-waste in the world.
Citing a study, the release said that India's e-waste production is estimated to be 5.2 million tonnes per annum by 2020, at a compound annual growth rate of about 30 per cent.
After notifying the rules, the government had emphasised that various producers can have a separate Producer Responsibility Organisation (PRO) and ensure collection of e- waste, as well as its disposal in an environmentally sound manner.
Speaking at the workshop, HP India's Sustainability Manager Upasana Choudhry said collaborations with partners and governments to advance responsible recycling are crucial in delivering desired outcomes.
Rahul Agarwal, Manager, Environmental Affairs and Sustainability, Lenovo India said that e-waste management is one of the key areas which needs immediate attention.
IFC and Karo Sambhav have come together to develop a pan-India PRO solution for India's e-waste industry, by engaging with schools and colleges, corporate and government offices, among others.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)