Govt considers industry status for waste management, recycling sector

The government may accord industry status to waste management and recycling businesses, two people aware of the development said, amid a push for circular economy.

- Rituraj Baruah & Manas Pimpalkhare

This has been a long-standing demand of the waste management sector, as an industry status helps businesses get easier access to cheaper bank loans.

"This has been a constant demand by the waste management and recycling sector, and a proposal has been submitted which is under consideration with the government," said one of the officials mentioned above, requesting anonymity. An email query sent to the Union ministry of micro, small, and medium enterprises (MSME) did not elicit a response till press time. Many of the businesses in this sector are MSMEs.

Apart from allowing businesses to secure loans at lower rates, industry status granted by the Centre or state government also entitles these firms to be exempted from some levies, and get benefits such as cheaper power supplies.