The electronics industry in India is poised to unlock an additional $7 billion in revenue by 2035 through the adoption of circular business models and policy pathways. The India Cellular and Electronics Association (ICEA) recently released a report indicating that the industry has the potential to harness this untapped revenue.
The report highlights that while existing commitments and targets project a market size of $13 billion for these circular models by 2035, the total addressable market, achievable with appropriate public and private sector actions, could reach $20 billion.
The report sheds light on three core business models – Repair, Resell and Recycling – that are already thriving in India, predominantly driven by the informal sector. This competitive sector currently manages around 90 percent of collection and 70 percent of recycling. However, there is significant room for improvement, as only 22 percent of the collected e-waste is currently handled by the formal sector.
The report’s findings indicate that India’s electronics sector has a substantial opportunity to not only boost revenue but also to lead the way in embracing circular economy practices, which align with global sustainability goals and economic growth.
