The electronic waste sector in India is expected to create 450,000 direct jobs by 2025 across the value chain, according to International Finance Corporation (IFC).
There is potential to create another 180,000 jobs in the allied sectors of transportation and manufacturing.
IFC has been working in the e-waste sector since 2012. IFC and Karo Sambhav – a producer responsibility organization (PRO) – launched the India E-waste program in 2017 for developing the ecosystem for responsible E-Waste management.
The project collected over 4,000 metric tons of e-waste from citizens and corporations and recycled responsibly under the program, and 2,260,000 citizens, including school children, sensitized for safe disposal of end-of-life electronics.
“IFC develops private sector solutions to solve complex challenges the world faces. Through the India E-Waste Program, we have created a scalable and inclusive private sector-led solution, which will boost formal employment and create investment opportunities in a fast growing sector in India,” said Vikramjit Singh, senior country officer at IFC.
India is one of the fastest growing markets for electronics and the demand is projected to reach $400 billion by 2020. India accounts for more than 2 million tons of e-waste annually. This is expected to reach 5 million tons by 2020.
“The e-waste sector has significant potential to contribute to the country’s economy and generate employment,” said Sonu Singh, joint director, Hazardous Substances Management Division, Ministry of Environment, Forest, and Climate Change.
IFC is working on a comprehensive investment potential analysis for the e-waste sector, which will soon be released.
Pranshu Singhal, founder and director of Karo Sambhav, said: “IFC’s partnership with us has acted as a catalyst for developing an ecosystem that enables a transparent and accountable system to channel e-waste for responsible recycling.”