A Looming Threat or an Underexplored Opportunity
India is poised to be an economic superpower by 2030. Having displaced Japan recently, it is now the 3rd largest economy in terms of Purchasing Power Parity (PPP). By 2020, 30% of India’s population is expected to be in the age group of 25-44 years. This young and earning age profile of the burgeoning Indian population offers huge potential for electronic goods. Further, this has significant economic and social impact as the rapidly increasing consumption and end-of-life rates of electronic products are leading to higher generation of e-waste. In this context, the need for e-waste management cannot be overemphasized.
E-commerce: Enabling the next revolution in e-waste management
India’s consumer electronics and e-commerce markets have seen remarkable growth over the last decade. The country’s consumer electronics market is expected to increase from USD 69.6 billion in 2012 to USD 400 billion by 2020 making it one of the fastest-growing markets in the world. Not surprisingly, India’s e-commerce industry too is growing at a frenetic pace and is expected to balloon to USD 43 billion over the next five years.