A Policy on Metal Recycling is being jointly prepared by Niti Ayog and Steel Ministry of India may soon roll out. It is expected to be finalized over the next few months.
According to sources, A member from the Niti Ayog said, “A policy is being made on Metal Recycling saying India is wealthy in terms of metal scrap. Scrap management should be done in an organized manner. Setting up various scrap centers where people can deposit their household and daily generated scrap and get paid at prior decided prices according to the policy.”
Already some policies have been implemented such banning of (15 years and above) old diesel and petrol vehicles in the National Capital Region (NCR) by the National Green Tribunal (NGT) and Supreme Court of India recently passed a judgement of banning sales of BS-III vehicles in the country effective from 1 April 2017.
According to Steelmint Analysis, Germany, Sweden, Finland, Russia, Turkey, Australia and the USA are some of the developed countries who actively promote the use of metal scrap generated from the country itself. The average recycling rate in these countries is over 80 per cent, while India’s recycling rate is merely 20-25 per cent.
As the policy is drafted and implemented it would increase the scrap generation in the country and would surely have a positive impact on the steel industry as the mills would get good quality scrap from the country itself.
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