India, June 25 -- India is rapidly shifting toward circular manufacturing as policies like the Vehicle Scrappage Policy, EPR mandates for batteries and electronics, and customs duty cuts on 12 critical minerals make scrap recovery increasingly profitable. This has put the formal recycling industry, valued at $14 billion in FY24, on track to surpass $21 billion by 2030.

An end-of-life vehicle still contains nearly 800 - 900 kg of valuable materials like steel, aluminum, copper, and lithium-ion batteries. In unorganized recycling channels, much of this value is lost, while organized facilities can recover and reuse these materials efficiently at far lower energy costs than fresh mining.

Why the Business Is Highly Profitable Metals such a...