Recyclekaro Gains Eligibility for Government's Critical Mineral Recycling Incentive Scheme
Recyclekaro secures eligibility for govt's incentive scheme
News 18
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Recyclekaro, an e-waste and lithium-ion battery recycling firm based in Mumbai, has secured eligibility for the Indian government's Incentive Scheme for Promotion of Critical Mineral Recycling. The company plans to invest approximately ₹300 crore (roughly $36 million USD) to enhance its recycling operations, aiming to process around 50,000 metric tonnes of critical minerals.
- 01Recyclekaro has secured eligibility for the government's Critical Mineral Recycling Incentive Scheme.
- 02The company will invest ₹300 crore (approximately $36 million USD) to expand its recycling operations.
- 03The project aims to increase processing capacity to around 50,000 metric tonnes.
- 04This initiative supports India's circular economy and reduces dependence on imported critical minerals.
- 05The incentive scheme is part of the National Critical Mineral Mission, promoting domestic recycling capacity.
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Mumbai-based Recyclekaro, specializing in e-waste and lithium-ion battery recycling, has announced its eligibility for the government's Incentive Scheme for Promotion of Critical Mineral Recycling. This scheme is part of the National Critical Mineral Mission, which aims to bolster India's recycling capacity for critical minerals. Recyclekaro plans to invest ₹300 crore (approximately $36 million USD) to enhance its operations, which will increase its processing capacity to 50,000 metric tonnes. The project focuses on recovering critical minerals from various waste streams, including spent lithium-ion batteries and electronic circuit e-waste. Rajesh Gupta, the company's Founder and Managing Director, emphasized the importance of this initiative in strengthening India's energy security and promoting a circular economy. The government's incentive scheme provides financial support to firms engaged in recycling efforts, aiming to reduce the country's dependency on imported minerals.
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This initiative will enhance local recycling capabilities, potentially creating jobs and reducing the environmental impact of e-waste.
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