Talking about various issues and topics to be taken up for discussion during the three-day Conference, Mehta added: "MRAI members will deliberate on immediate concerns where they need Government's intervention. Pre-Shipment Inspection Certification (PSIC) is one such area where the trade body wants the Government to streamline pre-shipment inspection procedures, which need to be done hassle-free.

"The trade body also wants to remove inconsistencies in customs and evaluation of pricing in scrap imports. With this, the members demand for same duty structure for entire India at various ports. It will also seek a constitution of a regulatory body to control and monitor shipping lines."

Today, India's annual scrap consumption is Rs750 billion (20.40 million tonnes) and it imports 6.48 million tonnes of scrap at an estimated value of Rs390 billion to become the world's third largest importer of scrap. With a CAGR of 11.4%, the sector is poised to take the consumption to 30.03 million tonnes by 2020.

Surprisingly, India's recycling rate is less than 20% where the world over, recycling has been accepted as a sustainable business model yielding higher revenues entailing saving the environment and tremendous amount of energy. 

With a view to ensure the fast track growth of the industry, Metal Industry Association of India has sought a framing and implementation of Metal Recycling Policy duly supported by an ‘industry-status' recognition. Metal Recycling contributes about two to three per cent to the Indian GDP. As the industry opens up and grows at a CAGR of 11.4 per cent, this will increase the contribution of Metals Recycling to the Indian GDP and ensure sustainable growth coupled with preservation of natural resources."

Talking about expectations from the Government, Mehta further added, "When Global Recycling Industry generates an annual revenue of $ 500 billion, India is lagging much behind.  Government should immediately intervene and draft a Metal Recycling Policy to grant industry status to this sector and rationalise duty structures to make it a globally competitive industry.

"With this, the Government will be a net revenue earner and it will save the environment and energy. With a better flow of raw material in manufacturing through recycling of metals, the industry can thus help achieve Government its mission of Swatch Bharat Abhiyaan and Make in India."

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