Recyclekaro’s CEO Prassann Daphal pitches for stricter regulatory implications and a push in R&D to exploit the potential of the Indian recycling industry

Waste to worth is no more a newer concept as the world is witnessing an abundance of used materials/metals, thrown into garbage. India saw a huge surge in electronic waste (e-waste) generation over the past five years, rising from 1.01 million metric tonne (MT) in 2019-20 to 1.751 million MT in 2023-24, as per the data. The domestic recycling market size is estimated at USD 0.89 billion in 2025 and is expected to reach USD 1.34 billion by 2030, at a compound annual growth rate of 8.53 per cent during the forecast period (2025-2030).

The need for proper disposal and extracting its value has been necessary not only to prevent the mountains of e-waste and reduce the contamination of earth and water with heavy metal but also to create a circular economy that regenerates the value from scratch. But still, it recycles only 32.9 per cent of the e-waste generated in 2021-2022, data from the Ministry of Environment, Forest and Climate Change shows.

In an interview with BW Businessworld, Recyclekaro’s Chief Executive Officer, Prassann Daphal pitched for stricter regulatory implications and a push in research and development (R&D) to exploit the potential of the Indian recycling industry, as the sector is grappling with the least investor trust. To make recycling a profitable venture, he advocated for subsidising recycling infrastructure and offering tax benefits to companies investing in circular solutions. Edited excerpts:

Why India’s recycling rate is not as high as it should be? What are the challenges?
In Europe, recyclers are paid for processing waste batteries (Rs 200-500 per kg), making it easier for them to enter the business. In India, however, recyclers must buy the scrap material, which is a challenge, especially without the right technology or efficiency. Additionally, there’s no local cell manufacturing, so a battery-grade cathode material plant would have no buyers in India and would require significant inventory and working capital to export. However, by 2027, with companies like Amara Raja, Exide, Tata, and Ola Electric setting up cell manufacturing plants, and the government mandating 5 per cent recycled materials in new batteries, we expect more players to enter the recycling industry.

RecycleKaro has recently increased its recycling capacity to 24,000 tonne annually. What were the key factors behind this expansion, and how do you see it impacting the recycling landscape in India?
At RecycleKaro, we believe in scale with purpose. Our expansion to 24,000 tonne was driven by three core factors—growing demand for responsible e-waste and battery recycling, technological advancements, and our commitment to sustainability. India generates over 2 million tonne of e-waste annually, and this figure is projected to grow significantly. By increasing our capacity, we are not just recycling more; we’re pioneering a circular economy where valuable materials re-enter the supply chain instead of ending up in landfills. This will accelerate India’s transition to a greener, resource-efficient future.

With the introduction of new technologies like the Solvent Extraction System, what do you see as the most significant technological challenges and opportunities in the recycling industry in India?
The biggest challenge is ensuring efficient material recovery from complex waste streams while maintaining a low environmental footprint. The opportunity lies in innovation—our ‘solvent extraction system’ is a prime example. It allows us to extract pure metals with minimal waste, reducing dependence on mining. The future of recycling will be defined by such closed-loop technologies that make sustainability both scalable and economically viable.

How do you ensure that your processes align with India’s green agenda, and what steps are being taken to reduce the environmental impact of your operations?
Sustainability is at the heart of what we do. Our plant is a zero-disposal facility, meaning nothing goes to landfills. We operate with minimal water usage, near-zero emissions, and a strong focus on energy efficiency. Additionally, we actively work with policymakers to push for stricter regulations that incentivize responsible recycling practices across industries.

Lithium-ion batteries are becoming increasingly important due to the rise of electric vehicles and renewable energy storage. How does RecycleKaro address the challenges involved in recycling these batteries, especially given the variety of chemistries and cell formats?
Lithium-ion battery recycling is one of the most critical challenges of our time. We have invested in cutting-edge processes to separate, recover, and refine valuable materials like lithium, cobalt, and nickel. The global lithium-ion battery recycling market is expected to reach USD 18 billion by 2030. Our process is designed to handle diverse chemistries, from Nickel, Manganese, and Cobalt (NMC) to Lithium, Iron, and Phosphate (LFP) batteries, ensuring we maximise recovery while minimising waste. As India scales its EV industry, robust battery recycling will be key to reducing import dependency and ensuring resource security.

RecycleKaro has formed partnerships with companies like Bajaj Auto for EV battery recycling. How do you view the role of partnerships with automakers and battery manufacturers in advancing the recycling sector, and are there plans for additional collaborations?
Collaboration is the cornerstone of a successful circular economy. Partnerships with automakers, battery manufacturers, and policymakers enable us to create an ecosystem where materials are reused instead of discarded. We are actively working to onboard more industry players, ensuring end-to-end battery lifecycle management. Future collaborations will focus on building a robust reverse logistics network and scaling efficient collection models.

What measures does RecycleKaro take to minimise the amount of e-waste sent to landfills, and what more can be done to promote responsible disposal among consumers?
It’s estimated that less than 20 per cent of India’s e-waste is currently being formally recycled. On the consumer side, we are introducing digital platforms that incentivise responsible disposal through rewards and traceability. The goal is to make recycling a seamless and rewarding process for every individual and business.

Extended Producer Responsibility (EPR) regulations are an important part of waste management in India. How do these regulations affect the recycling industry, and are there any areas where you think they could be improved?
EPR has been instrumental in pushing brands to take ownership of their waste, but enforcement remains a challenge. A stronger incentive structure for compliance and greater transparency in waste collection data are needed. Additionally, subsidizing recycling infrastructure and creating tax benefits for companies investing in circular solutions would significantly accelerate India’s green transition.

RecycleKaro has set a target to expand its recycling capacity. What is your outlook on the future of the recycling industry in India, and how do you plan to adapt to the evolving market?
The next five years will define India’s transition to a circular economy. As regulations tighten and sustainability becomes a business imperative, we expect rapid adoption of responsible recycling. Our focus is on scaling infrastructure, integrating AI-driven automation, and expanding our partnerships with global recycling leaders. By 2025, we aim to be at the forefront of making India self-sufficient in critical mineral recovery.

Inadequate waste collection and sorting systems are a significant challenge in India. What role do you see RecycleKaro playing in addressing this, and how can the private sector help improve waste management infrastructure?
The problem is not just recycling—it’s efficient collection and segregation. We are investing in smart collection networks that use data analytics to optimize routes and pickup schedules. Additionally, we’re working with local municipalities and housing societies to integrate on-ground waste management solutions. The private sector must take a proactive role in building collection infrastructure, incentivizing consumers, and ensuring traceability.

Beyond lithium-ion battery recycling, RecycleKaro is involved in e-waste recycling. What emerging technologies or innovations are you focused on, and how do you plan to incorporate them to improve recycling processes?
There are various sorts of recycling practices available today, AI-powered material sorting is also picking up, and innovation in direct cathode recycling for batteries is on the rise. We use an advanced version of the Hydrometallurgical process. Our R&D team is constantly working on solutions that increase yield, reduce process waste, and lower energy consumption. The future of recycling is not just about handling more waste—it is about doing it smarter, cleaner, and more efficiently.