ICRA projects GDP to dip 6.5% YoY in Q2FY25
It said, this is due to the heavy rains and weak margins offsetting the buoyancy injected by the turnaround in Government capital expenditure and healthy trends in kharif sowing.
The 11th International Materials Recycling Conference (IMRC) recently concluded in the city with a positive note with special emphasis on strides in promoting sustainable practices, minimizing carbon emissions and protecting natural resources for a greener tomorrow. MRAI’s 11th IMRC conference and Expo is Asia’s biggest event, which was attended by more than 2,200 delegates having 200 exhibitors from more than 35 countries participating in this event. The theme of the conference was focused on the ‘Recycling Industry Transition Towards Vision 2047.’
The collective focus remains on propelling India towards a growth trajectory exceeding 8 per cent, crossing the $4 trillion GDP mark in 2024. The 11th IMRC laid a robust foundation for fostering collaboration, investments and technological innovations in the recycling sector, contributing to a greener and more sustainable global future. Pralhad Joshi, Union minister for parliamentary affairs, coal and mines, said “Material recycling is not a choice, but a necessity. India recycles around 25 per cent of its total metal consumption and is working to significantly end this by investing in modern recycling facilities and collection channels.
The government has generated Rs 11,000 crore in revenue from electronic waste disposal in the last three years, showcasing the economic potential of the recycling sector.” Union civil aviation and steel minister Jyotiraditya Scindia said, “As per our ministry’s Vision 2047 document, in the next 25 years, the percentage of scrap will be 50 per cent along with the balance 50 per cent as iron ore. Iron ore will increase to 25 per cent of scrap in the next five years. The steel ministry is committed to a net zero target by the year 2070.
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