Metals & Mining News

Metal recycling industry calls for policy adjustments to boost circular economy

Goods and Service Tax, import duty and absence of other initiatives for a circular economy are hindering metal recycling, industry body officials said on Wednesday. With more headwinds expected from scrap-exporting countries in near future, the country needs to remove ambiguity to showcase India’s commitment to a circular economy, aiming at reducing emissions, they said.

“There is a wrong message going out to the world that India is not committed to the use of scrap by imposing a duty of 2.5 per cent. Europe, a major exporter of scrap, is now drawing rules and regulations that will make it difficult to import unless India takes proactive steps,” said senior vice-president of Material Recycling Association of India (MRAI), Dhawal Shah.

He made these remarks on the sidelines of the 11th International Material Recycling Conference.

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