Metal Recycling: Policy Changes Needed for Circular Economy
By Rediff Money Desk, KOLKATA Jan 24, 2024 16:05
India's metal recycling industry faces challenges from GST, import duty and lack of circular economy policies. Experts call for policy adjustments to boost recycling and reduce emissions.
![Metal Recycling: Policy Changes Needed for Circular Economy](https://im.rediff.com/money/2018/jun/05scrap.jpg)
Kolkata, Jan 24 (PTI) Goods and Service Tax, import duty and absence of other initiatives for a circular economy are hindering metal recycling, industry body officials said on Wednesday.
With more headwinds expected from scrap-exporting countries in near future, the country needs to remove ambiguity to showcase India's commitment to a circular economy, aiming at reducing emissions, they said.
"There is a wrong message going out to the world that India is not committed to the use of scrap by imposing a duty of 2.5 per cent. Europe, a major exporter of scrap, is now drawing rules and regulations that will make it difficult to import unless India takes proactive steps," said senior vice-president of Material Recycling Association of India (MRAI), Dhawal Shah.
He made these remarks on the sidelines of the 11th International Material Recycling Conference.
With more headwinds expected from scrap-exporting countries in near future, the country needs to remove ambiguity to showcase India's commitment to a circular economy, aiming at reducing emissions, they said.
"There is a wrong message going out to the world that India is not committed to the use of scrap by imposing a duty of 2.5 per cent. Europe, a major exporter of scrap, is now drawing rules and regulations that will make it difficult to import unless India takes proactive steps," said senior vice-president of Material Recycling Association of India (MRAI), Dhawal Shah.
He made these remarks on the sidelines of the 11th International Material Recycling Conference.
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