Recycling Boom: A Future Bigger Than Mining

The recycling industry is projected to surpass the mining industry by 2050, creating vast opportunities for companies. Tata Steel CEO, T V Narendran, noted that managing by-products and urban mining will become crucial. The digital medium is bridging the gap between big and small industries, promoting customisation over scale.

The recycling industry is on track to outgrow the mining sector by 2050, according to T V Narendran, Managing Director and CEO of Tata Steel. Speaking at the Singhbhum Chamber of Commerce and Industry event, Narendran emphasized the growing significance of recycling alongside traditional mining.

Narendran highlighted Tata Steel's commitment to recycling, citing the company's Industrial By-products Management Division, which boasts a turnover of Rs 10,000 crore. The sector's potential lies in designing steel for recyclability and transforming waste into valuable materials, he said.

The concept of 'urban mining' presents further possibilities due to India's consumption of electronics and the need to extract critical minerals. Narendran also emphasized the impact of digitalisation, which has leveled the playing field between large corporations and smaller businesses through enhanced customisation capabilities.

(With inputs from agencies.)