Today, NGT has issued an order banning over 10-year-old diesel vehicles in Delhi. Is auto recycling a next big thing in India?
The National Green Tribunal (NGT) today has directed RTO Delhi to de-register all diesel vehicles, which are plying in Delhi for more than 10 years. The ban is effective immediately.
NGT wants to ban diesel vehicles over 10 years old in at least 15 cities across India to bring down pollution.
Is auto recycling a next big thing in India?
Auto recycling in India is at an initial stage but potential is huge. India will become world’s third largest automobile market in next couple of years.
Recently, the Indian government has drafted policy for vehicle scrapping. This policy named as Voluntary Vehicle Modernization Program (V-VMP plan) is gaining pace after NGT ordered a ban on 10-year old diesel and 15-year old petrol cars.
Indian auto and recycling industry is highly optimistic over government’s initiative on recycling old vehicles. Auto recycling is quite common in developed countries like US, Europe, Japan, Korea and China. Over 30 million vehicles are recycled every year globally. US contribute about 40-45% of total vehicle recycling followed by Europe (30%), Japan (15-20%).
Industry is anticipating at least 3-4 million vehicles may come initially for recycling in India and numbers will double in 2020. It is to be noted that India is going to the 3rd largest automobile market in the world in 2017.
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