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Today Date : Tuesday, April 16, 2024

AKAM Chennai promotes metal recycling for CE and carbon emission reduction

AKAM Chennai promotes metal recycling for CE and carbon emission reduction

India has made significant progress in the last 75 years, and the country is celebrating AzadiKaAmritMahotsav, marking 75 years of independence. The Ministry of Mines and Ministry of Steel are organizing an "AzadikaAmritMahotsav (AKAM) - CIRCULAR ECONOMY Campaign - 2023" to celebrate the country's diverse economy. 

The Jawaharlal Nehru Aluminium Research Development & Design Centre (JNARDDC) and Material Recycling Association of India (MRAI) are organizing an Awareness Conference on "Sustainable & Circular Bharat: Towards Zero Waste in Metals Processing" on May 31, 2023. The conference aims to promote sustainable and circular economy, focusing on renewable energy, responsible alternatives, and recycling products. The President of India, Sanjay Mehta, urged the government to review the 18% GST on metal scrap and reduce it to 5%, promoting a circular economy and eco-system.He also emphasized the need for a primary/secondary classification system for steel product purchases, requiring materials to be manufactured through the blast furnace route (Iron ore) rather than the electrical arc furnace or induction furnace route. 
To achieve 300 million tons of steel production by 2030 and promote recycling of metals like zinc, copper, aluminium, and lead production, the government must implement lucrative policies to promote investment in the recycling sector.

 The government is expected to intervene in key issues related to scrap import, FTA, GST, and domestic scrap availability. Joint Secretaries of Steel and Mines, Mr. Roy and Mr. Joshi, assured support for the ferrous and non-ferrous recycling sector, emphasizing their role in a circular economy and cost-effectiveness.Dr.AnupamAgnihotri, Director of JNARDDC, highlighted the benefits of recycling and its role in averting climate change. An exclusive two-day plant visit was held in Chennai, India's second-largest state by economy and third-largest exporting state, which is an important recycling hub for sponge-iron and scrap-based TMT bars manufacturing.