Steel scrap currently accounts for nearly 21% of India’s crude steel production, significantly lower than the global average of around 33%. However, scrap availability in India is projected to increase to nearly 36 million tonnes, indicating a strong upward trajectory in scrap consumption as new steel capacities come online.

Addressing the inaugural session, Daya Nidhan Pandey, Joint Secretary, Ministry of Steel, highlighted that the government has adopted a coordinated policy approach to strengthen the scrap ecosystem. Key measures include the Steel Scrap Recycling Policy 2019, the Vehicle Scrappage Policy, the rollout of Registered Vehicle Scrapping Facilities (RVSFs), and the integration of scrap management within India’s broader circular economy framework.

Recently notified Extended Producer Responsibility (EPR) mandates for end-of-life vehicles and construction and demolition waste are also expected to accelerate formalisation and improve scrap recovery rates.

Looking ahead, Pandey said India aims to gradually raise the share of scrap in steelmaking towards the global benchmark of 31%. With India targeting 300 million tonnes of steel capacity by 2030 and 500 million tonnes by 2047, steel scrap is set to play a decisive role in conserving iron ore, reducing dependence on coking coal imports, lowering emissions, and supporting India’s commitment to achieve net zero emissions by 2070.

He further emphasised that scrap-based steelmaking is emerging as a critical pillar of India’s decarbonisation strategy, as it significantly reduces carbon emissions while substituting virgin raw materials.

Highlighting policy and operational challenges, Sanjay Mehta, President of the Material Recycling Association of India (MRAI), called for urgent rationalisation of taxation and regulations. He urged the government to reduce GST on steel scrap to 5%, stating that higher tax rates are constraining growth and encouraging non-compliance. He also sought the complete removal of import duty on aluminium scrap and stronger enforcement of EPR norms across e-waste, tyres and plastics, warning that weak implementation is undermining the recycling value chain.

Mehta also underscored the social dimension of India’s recycling ecosystem, noting that nearly one-third of scrap originates from ragpickers, households and small workshops. He suggested that routing scrap purchases through UPI-based digital payments, while discouraging cash transactions at the first level of collection, could help integrate informal workers into the formal economy with greater dignity and sustainability.

On the evolving industry landscape, Dhawal Shah, Senior Vice President, MRAI, said recycling in India has moved decisively from being a CSR-led activity to a core business strategy. India currently has more than 1,400 start-ups operating across waste management and sustainability. At the current pace, the recycling industry could surpass mining in scale well before 2050, reflecting growing confidence and long-term opportunity in the sector.

Zain Nathani, Vice President, MRAI, described India’s recycling industry as a potential game changer, adding that duty rationalisation by the government would further accelerate growth. Amar Singh, Secretary General, MRAI, noted that the sector has undergone a major transition and is poised to make significantly higher contributions to India’s GDP.

Highlighting the role of finance and global capital, Rajat Agarwal, Managing Director of Gravita India Limited, said capital is no longer a constraint for responsible recyclers. Global green funds and ESG-focused investors are actively backing scalable recycling platforms that deliver both financial returns and environmental impact. With strong governance, supportive policies such as EPR, and India’s circular economy vision, Indian recyclers are now emerging as globally competitive climate-solution providers.

Organised by the Material Recycling Association of India, the three-day IMRC 2026 is being held from January 20 to 22, 2026, at the Novotel Jaipur & Convention Centre. The conference brings together policymakers, industry leaders and global stakeholders to discuss recycling’s role in sustainable industrial growth, climate action, energy transition and regulatory reforms.

During the inaugural session, Lifetime Achievement Awards were presented to Jinesh Shah (Rajhans Impex Pvt. Ltd.), Purshottam Parolia (Nihon Ispat Pvt. Ltd.) and Hitesh Shah (Mono Steel India Limited). The Global Recycler of the Year Award was conferred on Anshul Gupta, Chairman, PAN Gulf International.

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