PR No – 84
20th February 2026
New Delhi
PHDCCI hosts a National Conclave on “Reimagining India’s Scrap & Recycling Market
PHD Chamber of Commerce, in association with Metal X, hosted the National Conclave on “Reimagining India’s Scrap and Recycling Market” on 20th February 2026. Designed as a high-level policy and industry platform, the conclave convened an influential cross-section of stakeholders — including senior government officials, regulators, public sector enterprises, industry captains, recyclers, financiers, and technology providers — to chart a transformative roadmap for one of India’s most critical yet underserved sectors.
The conclave served as a pivotal forum to deliberate on the structural reforms necessary to bring India’s fragmented scrap and recycling markets into the mainstream economy. Discussions centered on streamlining the recycling industry, strengthening transparency, improving governance frameworks, and building institutional trust across the recycling value chain — laying the groundwork for a more organised, efficient, and globally competitive ecosystem.
The conclave commenced with a welcome address from Dr. Jatinder Singh, Deputy Secretary General, PHDCCI. Welcoming distinguished delegation of government officials, regulators, industry leaders, recyclers, financiers, and technology providers, Dr Singh expressed confidence that the collective dialogue would yield meaningful outcomes for the sector.
The discussion at the Conclave was supported by a special address and industry perspective from Mr Vijay Sharma, Chair, Minerals & Metal Committee, PHDCCI and Director, Jindal Steels.
In his address, Mr Sharma firmly stated that scrap management is no longer just a risk management issue — it is a strategic, business-driven approach centred on competitiveness, sustainability, and supply chain resilience.
He highlighted that one ton of recycled steel saves 1.1 tons of iron ore and 630 kg of coking coal, while reducing emissions by nearly 28% — making scrap an indispensable raw material that grows alongside the economy.
He identified five core challenges — fragmentation and informality, quality and standardisation, price volatility, technology and capital gaps, and a trust deficit — urging that these be addressed urgently for the sector to scale.
He called for scrap to be recognised as a strategic commodity, advocating for ecosystem formalisation through scrap processing clusters, integration of informal collectors into formal value chains, technology-led digital infrastructure, and structured financing linked to ESG and green finance frameworks.
Mr Alok Sahay, Secretary General and Executive Head, Indian Steel Association, while delivering a special address noted – While integrated steel players maintain an excellent record in segregated scrap usage — an effective tool for progressive cost reduction — India’s continued investment in blast furnace production remains an economic necessity given the country’s growth aspirations.
He contextualised the global picture, noting that of the 2 billion tonnes of steel produced annually worldwide, only 600 million tonnes comes from scrap, with hydrogen-based alternatives still expensive and high-grade DRI iron ore limited in India.
He highlighted that India’s carbon intensity stands at 2.55 tonnes of CO₂ per tonne of steel, making scrap’s immediate 28% emission reduction one of the most practical short-term decarbonisation solutions available — far more accessible than the expensive long-term pathways.
Presenting India’s growth trajectory, he noted that steel production has surged from 25 million tonnes to 165 million tonnes, with targets of 300 million tonnes by 2030, 500 million tonnes by 2047, and 700 million tonnes by 2070 — making scrap strategically indispensable.
He also pointed to a significant gap and opportunity — India’s scrap-based production stands at just 22%, compared to 70% in the US and 55% in the EU — while flagging that India’s 8 million tonne scrap import dependency faces growing risk as OECD countries consider export restrictions, making domestic scrap development a matter of supply chain urgency.
Speaking at the conclave, Dr. Ajay Mathur, Ex-Director General, Indian Solar Alliance opened with a striking reflection — the last thing he disposed of was a rusted car fender handed to a “kabadwala” — using this to spotlight the informal yet indispensable network that has quietly sustained India’s recycling ecosystem for decades.
He called for a fundamental reframing: scrap is not waste — it is urban ore, deferred value, and future raw material. He identified three structural challenges — informality (90% of recycling in hazardous, low-recovery conditions), the segregation crisis, and a deep trust deficit.
He outlined three critical shifts — formalisation of “kabadwalas” as green entrepreneurs, a digital nervous system for traceability and pricing transparency, and policy enablement through recycling parks and minimum recycled content mandates.
He concluded that getting this right unlocks decarbonisation, 10 million green jobs, and strategic autonomy for India.
Mr Nilotpal Pathak, Director, theMetalX in his address asserted that recycling must be repositioned from a secondary activity to a primary economic activity — essential for a country growing at nearly 8% annually with rising material demand.
Drawing from his experience building BSE Agricultural Markets, he highlighted how transparent, traceable marketplace infrastructure brought informal trade into the mainstream — and how MetalX represents the next step in that evolution for scrap.
He outlined MetalX’s core proposition: creating a transparent, BSE-governed digital marketplace generating traceable transaction data to improve creditworthiness, enable structured financing, and mainstream recycling within ESG and sustainability finance frameworks — a humble but decisive first step toward organising India’s informal recycling ecosystem.
Dr. Jatinder Singh, Deputy Secretary General, PHDCCI, highlighted that India stands at a critical crossroads in its pursuit of the Sustainable Development Goals and circular economy, with the recycling industry playing a pivotal enabling role.
He pointed to key structural challenges hobbling the sector — with 60–70% of the market operating informally, contamination rates of 25–30%, and price volatility constraining MSME growth. He called for urgent focus on market formalisation, digital transformation, access to finance, and supply chain transparency.
Referencing the Union Budget 2026, he noted that duty waivers and incentives align well with the conclave’s objectives, positioning India as a potential global recycling hub and a nearly USD 17 billion market opportunity under Swachh Bharat 2.0.
The event also marked a significant milestone with the official launch of the MetalX – India’s first institutionally governed neutral digital marketplace, unveiled as a purpose-built market platform designed to bring price discovery, standardized trade workflows, traceability, and institutional governance to the scrap ecosystem. The platform aims to enable transparent transactions, compliant trade execution, and data-driven market insights, while remaining neutral to buyers and sellers. By integrating technology with strong governance standards, theMetalX seeks to unlock wider participation from MSMEs, large corporates, and financial institutions, and support the growth of India’s circular economy.
The conclave drew a distinguished gathering of industry leaders, policymakers, domain experts, and academia, fostering rich cross-sectoral dialogue on the future of India’s scrap and recycling ecosystem.