Indian Government is drafting a new scrapping policy or end of life policy that will provide incentives to the owner for surrendering an old polluting vehicle in India. This policy initiative is likely to open new avenues for Scrap Recycling in the country.
The government’s proposed policy may push 28 million vehicles off the roads. It could generate steel scrap worth Rs 115 billion annually. Experts estimate this will also boost the automobile industry turnover by over 4 times to Rs 20,000 billion.
Let us find out more about this end of vehicle life policy and the change this will bring to how and how much steel is produced & consumed in India.