INDIA WASTE MANAGEMENT MARKET - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2023 - 2028)
Due to the high population density and growing industrial activity, which are producing large volumes of garbage, both hazardous and non-hazardous, India's waste management market is expanding at a healthy rate.
The idea of a circular economy is relatively new to India. However, the idea is becoming more well-known. Due to the fact that only 30% of the country's 75% recyclable garbage is now recycled, the waste management sector in India has enormous potential. Poor waste management in the nation is caused by a variety of factors, including a lack of effective infrastructure and inadequate regulations for garbage collection, disposal, and recycling.
More than 50% of all solid waste produced in India is put into landfills untreated, mostly as a result of the country's ineffective waste management systems. This makes landfill one of the most common means of garbage disposal in India. Particularly in the municipal authorities of West Bengal, Karnataka, and Haryana, where waste management is subpar due to weak planning and lower spending than anticipated by the individual state governments, private companies are receiving enormous push. As a result, the government is actively monitoring the state of the market, providing assistance to the industry's players, relaxing investment regulations, and offering financial incentives.
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