MUMBAI, April 10 /PRNewswire/ -- The availability of skilled resources has powered industrial expansion, and consequently, has fuelled consumerist lifestyles across all income groups in India. The hospitality, electrical, and electronics sectors have also grown at a fast clip, generating large amounts of waste that must be tackled in an environmentally sound manner. This pile-up of municipal, industrial, biomedical, and electronic waste is one of the fallouts of India's impressive GDP growth.
New analysis from Frost Sullivan ( http://www.environmental.frost.com), Study on the Indian Waste Management Services Market, finds that the market earned revenues of nearly INR 10 billion 2008 and estimates this to reach INR 27 billion in 2013 on account of rules and guidelines associated with each of the four waste categories.
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Another ramification of industrialization is the escalating urbanization, high standard of living demanding quality services and living space, mounting pressure on local government bodies due to stringent environmental standards, and greater awareness because of globalization.
Considering waste management service is still a fledgling market with limited funding, the onus is on the government to give it an impetus. There are already regulations such as the Ministry of Environment and Forests' Waste Management and Handling Rules for all the four types of waste, wherein private agencies are involved in waste collection and treatment. In case of electronic waste, these guidelines are the prime growth drivers.
The central government's policy initiatives such as Jawaharlal Nehru National Urban Renewal Mission (JNNURM) are opening up new vistas to private sector participants through public private partnerships (PPPs) in waste management, says Frost Sullivan Industry Analyst Sasidhar Chidanamarri. These private players are equipped with adequate technical expertise to increase efficiency and improve customer service.
Meanwhile, the eleventh five-year plan has allocated nearly INR 22 billion toward solid waste management apart from encouraging private participation. Several private equity funds also appear keen to participate in the Indian environmental market as the country tries to balance growth and environmental protection.
To make optimum use of these opportunities, both the government and market participants must guard against weak law enforcement as well as promote greater understanding of the critical need for effective waste management.
Large domestic and multinational environmental firms to small and medium enterprises (SMEs) are trying to entrench themselves in this market by harnessing its potential, notes Chidanamarri. Though currently the contracts awarded to private parties in municipal solid waste is limited to collection and transportation, a comprehensive and more integrated approach to waste management is about to take off in India.
Study on the Indian Waste Management Services Market is part of the Environmental Growth Partnership Service program, which also includes research in the following markets: water and wastewater treatment and residential water treatment systems. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.
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Study on the Indian Waste Management Services Market
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Contact: Ravinder Kaur, Corporate Communications - South Asia, P: +91-44-42044760, F: +91-44-24314264, E: email@example.com; Tanu Chopra, Corporate Communications - Middle East, P: +91-22-4001-3437, F: +91-22-2832-4713, E: firstname.lastname@example.org; Nimisha Iyer, Corporate Communications - South Asia Middle East, P: +91-22-40013404, F: +91-22-2832-4713, E: email@example.com