The latest research report published by the US-based ReportsnReports.com indicates that the E-waste market in India is likely to grow at a faster pace
MUMBAI (Scrap Monster): The latest research report published by the US-based ReportsnReports.com indicates that the E-waste market in India is likely to grow at a faster pace than China in the next few years.
According to the report, the Indian E-waste market is expected to grow at a Compound Annual Growth Rate (CAGR) of 26% during the five-year period from 2015 to 2019. This is significantly higher when compared to the growth of e-waste market in neighboring China. China, traditionally considered as the dump yard of electronic waste from developed countries, is poised to grow at a CAGR of only 19.41% over the same period.
The report titled ‘E-Waste Market in India 2015-2019’ highlights the need to reduce toxic discharge from discarded electronic goods. It further states that the country lacks effective e-waste disposal mechanisms. Moreover, the average buying power among the Indian population has increased tremendously. Also, there has been a dramatic increase in the discard/replacement rates of electronics in the country.
E-waste broadly describes loosely discarded, surplus, broken, obsolete, electrical and electronic devices.It is an area of immediate and long term concern as its unregulated accumulation and recycling can lead to major environmental degradation which will pose a major threat to health, it said.
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