The new Indian Government is launching Swachh Bharat Mission which aims to mobilize masses and seeks to create a clean India. The aim of this mission is to motivate Indian citizens to devote at least hundred hours every year i.e. two hours every week to keep their homes and neighborhood clean.
This birth of this mission underlines the urgent need of improving waste management scenario in India where public apathy towards proper waste disposal is a major hindrance. This may lead to more opportunities for existing and new players in this market as Indian Government is also looking at public private partnership (PPP) model to tackle waste problem.
The Waste Management Market in India 2014 – 2025 report, released by Market Research Reports, finds that the waste management market in India is expected to be worth USD 13.62 billion by 2025. Indian municipal solid waste (MSW) management market is expected to grow at a CAGR of 7.14 percent by 2025 while e-waste management market is expected to grow at a CAGR of 10.03 percent during the same period. India has planned to achieve a capacity of 2.9 million hospital beds by 2025 which will help bio medical waste management market to grow at a CAGR of 8.41 percent.
India, being one of the most populated countries in the worlds as well as one of the most rapidly developing country, is the source of a humongous amount of waste per annum, be it the municipal solid waste, hazardous waste, biomedical waste or e-waste. According to the Central Pollution Control Board (CPCB), the average solid waste generated in Indian ranges from 0.21 to 0.5 kg per capita per day.
This research found that traditional waste treatment techniques like dumping, direct landfilling, direct burning etc. seem unviable with the decreasing land sites for waste dumping as well as the severe environmental pollution resulting from them. Hence, this industry is coming up with innovative techniques to treat these varied forms of wastes like waste to energy technologies, vermicomposting, bioremediation etc. Also, with the relevant regulations, guidelines and procedures in place, there are still a lot of lacunae in the efficient implementation of the same.
India needs more investment in waste management sector as current recycling technologies are not readily available to most of the players. Most of the waste recycling plants are running under capacity and hence not getting enough waste to recycle. Though central government has allocated funds for clean India, how sates and urban local bodies (ULB) will get benefit out of this will only reveal in future.
This report finds that due to the large amounts of wastes generated, this industry is experiencing a steep growth trend with the mandate from governments side for appropriate waste treatment, support for generating of energy from these wastes, increasing public-private partnerships, increasing investments from various fund sourcing agencies, world organizations like UNESCO, WHO etc. and various subsidies and incentives from both central and state government.