This guide focuses on the management and handling of municipal solid waste (MSW) from its initial collection to how it is processed and dealt with at landfills and dumpsites. It also covers some solid wastes with lower-value recycling potential or volumes, e.g., biomedical waste, paper waste, and base metals from non-electronic waste sources, such as aluminium and copper. Managing the close to 60 million tonnes of MSW that India generates annually is a daunting challenge. 90% of that waste is apparently collected but lower levels of processing – around 50% – show a significant amount is either not processed or remains unaccounted for, highlighting inefficiencies in waste management systems. Projections indicate a staggering increase in MSW generation, nearly tripling to 165 million tonnes by 2031. There are significant opportunities to improve waste processing and resource recovery in India’s MSW sector through decentralization, automation, and logistical improvements.

India grapples with a substantial plastic waste challenge. In 2021, according to government data, the country generated nearly 26,000 tonnes of plastic waste daily, amounting to approximately 4.1 million tonnes over the year. However, other estimates state that the actual figures are more than double, with an estimate from a recent Nature paper, stating that India generated 9.3 million tonnes of plastic waste in 2023. A significant portion of that waste, approximately 75%, consists of three primary polymers: polypropylene (PP), polyethylene (PE) and polyvinyl chloride (PVC), with the remainder coming from other polymers such as polystyrene (PS), high-density polyethylene (HDPE), low-density polyethylene (LDPE), and polyethylene terephthalate (PET). The key opportunities for plastic circularity in India are emerging around enabling higher-quality recycled outputs, packaging solutions and circularity in traditionally hard-to-recycle segments, such as flexible and multilayer plastics. These cascade into specific opportunity areas across the value chain, which are summarized in this report 

In Extrapolations, Mumbai in 2059 is depicted as a dystopian city where climate change forces all commerce to take place at night, with people relying on oxygen stations to survive the extreme heat. This grim vision highlights the severe consequences of unchecked climate change, underscoring the importance of climate adaptation. Effective adaptation should focus on maintaining quality of life, which requires urgent investment in adaptation strategies today. The report shifts focus towards adaptation finance, challenging the idea that it is solely a public good with little role for private sector investment. While continuing to emphasize climate mitigation, the report identifies areas where adaptation investments can yield both positive impacts and financial returns. It stresses that addressing climate change is not only crucial for the planet but also presents significant business opportunities. The choices made in the next decade will be critical, requiring unprecedented capital to scale effective solutions.

This landscape guide is intended to outline India’s current context in recycling and circularity, with a focus on the investment potential, opportunities and business models in the ten most significant waste streams in India. It provides a framework for how investment potential in a waste stream can be determined, which covers five areas that define that potential: market size and growth; investable start-up pipeline; product readiness; policy support; financing needs and gaps. The guide also includes a historical outline of investments and funding in each waste stream and outlines the roles and participation of various types of equity funders, along with the potential and participation of non-dilutive funding options.

India presents significant opportunities for new businesses to create value by leveraging agricultural, food and biomass waste. Agricultural biomass, which primarily consists of post-harvest crop residue and waste from livestock, is the largest source of waste in India – the country generates approximately 350 million tonnes annually. Agricultural and biomass waste generation is also expected to increase as food production increases, especially for staple and cash crops like rice, wheat, maize and cotton. Biomass is used in diverse applications from fodder for cattle and household cooking to the production of biogas, manure and renewable fuels such as bioethanol and biodiesel.

Biomass caters to a substantial portion of India’s rural energy demand, fulfilling approximately 80% of it. Low-cost biomass solutions play a particularly significant role in rural settings, where small-scale energy needs predominate. Conversely, more sophisticated biomass technologies are used in applications such as energy generation or fuel production, especially for large-scale operations. These opportunities relate to improved collection, waste-to-energy solutions, and diverse biomaterials.

India is a significant player in the global e-waste landscape, contributing approximately 4.1 million tonnes of electronic waste (e-waste) in 2022, which accounts for approximately 7% of the world's total e-waste output. In 2021, one-third of India's e-waste was managed through formal and informal channels, with 80 to 90% of e-waste management operations handled by the informal sector. By 2030, India's e-waste output is expected to escalate significantly, reaching approximately 9 million tonnes (based on our estimates), which would represent about 11% of the global e-waste forecast for that year (82 million tonnes). India’s e-waste and LiB recycling sector offers multiple avenues to create value through innovative business models. The key opportunities range across advanced metal and rare earth extraction, integrated recycling, interim recycling for high-demand metals, second-life electronics and batteries. These cascade into specific opportunity areas across the value chain, which are summarized in this report.

"India has been slow to get its act together on climate change and it was only in 2021, at the COP26 summit in Glasgow, that we agreed to pursue a goal of net zero emissions as a country. Private investment is crucial to meeting India’s climate goals and while progress was made this year, this is much more to be done. This report, The State of Climate Finance in India 2022, is our second annual stock-taking of India and its climate action priorities. We review the progress in climate action from an Indian perspective, and focus on what it means for the world of climate finance. We invite readers of this report to draw from the insights and the findings of this report to advance their climate action aims, and also invite you all to reach out to us to connect and engage in mainstream climate finance in India and the region."