According to industry stakeholders, India's electronics sector is on track to capture $7 billion in untapped revenue by 2035 through a circular business model and policy pathways. According to current commitments and targets, the market for these circular models will be worth $13 billion in 2035. However, the total addressable market, if the right public and private actions are taken, can reach an astounding $20 billion, revealing a 35% untapped potential, according to a report by the India Cellular and Electronics Association (ICEA).

As India's resource consumption rises, Alkesh Kumar Sharma, Secretary, MeitY, believes that embracing the circular economy and sustainable growth is critical. "The report echoes the government's commitment to circular business models centred on India.

It assesses readiness, identifies opportunities, and recommends evidence-based policies, propelling us towards responsible resource management and the 4Rs — reuse, repair, recover, and re-manufacture," Sharma explained. Repair, resell, and recycling are three core business models that are already thriving in India, primarily driven by the informal sector.

This competitive sector handles approximately 90% of collection and 70% of recycling. However, only 22% of collected e-waste is managed by the formal sector, indicating room for improvement, according to the report. Pankaj Mohindroo, Chairman of ICEA, highlighted India's electronics sector's future potential as a global manufacturing hub. "I am confident that the electronics industry will facilitate sustainable circular economy practises to ensure a green future for future generations,” Mohindroo said.