Market
31
Jan
2025
3
min read

Opinion: India’s opportunity to lead the refurbishment industry

The global e-waste crisis is escalating, with over 53 million metric tons of electronic waste generated annually. In 2022 alone, 5.3 billion mobile phones were discarded. A recent survey found that three in five people have at least one unused phone, contributing to the growing e-waste problem. These devices represent both a challenge and an opportunity. Mandeep Manocha, co-founder and CEO of Cashify, shares his opinion on India’s upcoming secondary market in recent edition of TheWeek.

Refurbishment as a sustainable solution

Hoarding old electronics increases demand for new production, leading to resource depletion and higher emissions. Refurbishment extends device lifecycles, offering a cost-effective and sustainable alternative. In India, where 350 million people still use feature phones, refurbished smartphones can provide affordable access to technology and opportunities.

Transitioning to a circular economy

India must shift from a linear economy to a circular one, focusing on reuse, refurbishment, and recycling. Selling old electronics to organised markets allows devices to formally re-enter the economy, reducing e-waste.

India’s potential to lead

India is well-positioned for this shift with initiatives like ‘Mission LiFE’ and the ‘Right to Repair.’ However, expanding these efforts is essential. Developing refurbishment hubs, improving logistics, and investing in infrastructure will help establish India as a global leader in refurbished electronics.

Policy changes can drive impact

India can take inspiration from France, where refurbished devices are mandated in government offices. If India followed suit, the impact could be transformative. With over 40 million government employees, this policy could reduce e-waste and strengthen public trust in refurbished devices.

Exporting refurbished devices

Beyond its domestic market, India has the opportunity to export high-quality refurbished electronics to Africa, Southeast Asia, and Latin America. This would help bridge the digital divide while addressing global e-waste concerns.

Job creation and economic growth

A streamlined import process for used electronics would accelerate the refurbishment cycle. Simplifying customs procedures and implementing single-window clearance can boost the sector. India’s large workforce and cost advantages make it well-suited for the electronics repair services outsourcing (ERSO) industry. A $1 billion investment in refurbishment could generate 2,50,000 jobs, with more opportunities emerging as the sector grows.

A sustainable and prosperous future

Policymakers, businesses, and consumers must work together to foster a refurbishment-friendly environment. This is not just about reducing e-waste but about shaping a future where sustainability and economic growth align. With the right policies and innovation, India can become the world’s refurbishment capital, setting an example for sustainable technology worldwide.\

Via: TheWeek

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