The waste management industry in India is gaining attention, as the rapid urbanization, technological & infrastructure developments, and rising industrial growth have led to increased waste generation. Growing public awareness about sustainability, along with the pressure of rapid urbanization, has shaped the country’s waste management sector for a strong growth trajectory.
The Need for Waste Management:
The country’s Municipal Solid Waste generation (MSW), which stood at an average of 1,70,338 tonnes per day (TPD) in FY21-22, is estimated to reach 435 million tonnes annually by 2050. With the accelerated rate of urbanization and industrial growth, especially in developing countries like India, the amount of waste generated is increasing exponentially. The need for more efficient and effective waste management solutions becomes increasingly important as urban areas grow and businesses continue to expand. Rising industrial and infrastructural activities, especially, contribute a significant share to the overall waste generation, underpinning the growing need to manage this sector.
Evolution of Waste Management in India:
The country’s waste management landscape has transformed from traditional practices to modern, technology-driven, and policy-regulated systems. The industry is undergoing increased adoption of advanced technologies like WtE (Waste to Energy) plants and automated collection systems, which are significantly improving operational efficiency and reducing environmental impact. Additionally, the integration of data analytics and real-time monitoring solutions by using new technologies like drones is leading to the optimisation of collection routes and overall process efficiency.
Regulatory Framework and Recent Reforms:
India’s waste management rules have changed a lot over the years to better handle the growing waste problem. The older Municipal Solid Wastes (Management & Handling) Rules, 2000, came under the Environment (Protection) Act of 1986. These were updated in 2016 with the Solid Waste Management Rules, which added important requirements like mandatory waste segregation at the source, introducing user fees, and clearly defining the duties of waste producers and local authorities. More focused regulations, such as the Plastic Waste Management Rules of 2016 and the E-Waste and Battery Waste Rules of 2022, put the responsibility on producers to collect, recycle, and report waste through official Central Pollution Control Board (CPCB) systems.
Recently, the Draft Solid Waste Management Rules of 2024 have proposed even stricter segregation rules, better inclusion of rural areas, and digital tools to improve monitoring. Alongside these laws, government programs like the Swachh Bharat Mission, the rules for Construction and Demolition Waste, the Smart Cities Mission, and tax reductions on biodegradable bags are making the waste management system stronger. The GOBAR-Dhan Scheme also helps by turning organic waste into useful energy like biogas and bio-CNG, while creating rural jobs. Overall, these changes are making the country’s waste management more transparent, responsible, and effective.
Market Size, Growth Drivers, and Key Segments:
The global waste management market, which was estimated at USD 1.28 trillion in 2025, is anticipated to grow at a rate of 6.72% annually until 2034. India’s waste management sector, valued at around USD 13.60 billion in 2024, is expected to grow at a CAGR of 7.21% to reach USD 19.26 billion by 2030. The waste management industry is categorized into several sub-segments, including e-waste recycling, biomedical waste management, Construction and Demolition (C&D) waste management, and battery and tyre recycling, among others.
The Indian e-waste recycling industry, estimated at USD 1.60 billion in 2024, is projected to grow to USD 2.80 billion by 2033, at a CAGR of 6.60%. As healthcare services expand in India, the biomedical waste management market is expected to grow at an annual rate of 7.11%, rising from USD 2.32 billion in 2024 to USD 3.53 billion by 2030. The battery recycling market is also experiencing rapid growth, with experts predicting an expansion of nearly 9% each year from 2025 to 2033. Furthermore, according to the Automotive Tyre Manufacturers Association (ATMA), the country’s waste tyre imports have increased dramatically, from 264,000 Metric Tonnes (MT) in FY21 to 1.40 million MT in FY24, highlighting India’s growing role in the global tyre waste management sector.
Globally, the Construction and Demolition (C&D) waste management market is projected to grow from USD 204.48 billion in 2024 to USD 217.91 billion in 2025 (a growth rate of 6.6%). Looking ahead, the global market is expected to reach USD 292.65 billion by 2029, with an even higher annual growth rate of 7.7%. Major growth drivers include rapid urbanization, industrialization, infrastructure development, and increasing population, all of which contribute to higher waste generation and emphasise the need for effective waste management systems.
Stocks to watch:
- Antony Waste Handling Cell Ltd.- A leading Indian MSW management company with 20+ years of experience, offering end-to-end waste collection, processing, and disposal services nationwide. It operates Asia’s largest single-location waste plant and, as of H1 FY26, managed 2.60 MMT of waste, generated 66 Mn+ green energy units, and avoided 5,779 tonnes of CO₂ emissions.
- EMS Ltd– An Indian EPC company specializing in water and wastewater infrastructure, offering turnkey solutions for water treatment, sewage networks, and waste management, while also executing projects in irrigation, transportation, and building construction. It has expanded its capacity to manage sewage treatment plants (STPs) from an initial 4 MLD (million liters per day) to a maximum of 80 MLD, as of FY25.
- Gravita India Ltd– The company recycles lead-acid batteries and various metal, plastic, and rubber scraps. It smelts lead battery scrap and concentrates it to produce secondary lead, which is further refined into pure lead, lead alloys, lead oxides, and value-added products such as lead sheets, powder, and shot. Serving over 340 customers across 34+ countries, the company has delivered more than 2,03,000 MT of recycled products.
- Ion Exchange (India) Ltd– A pioneer in water, wastewater, and environmental solutions, serving industries, institutions, and communities. The company has manufacturing and assembly facilities across India, Portugal, the UAE, Indonesia, Bangladesh, and Saudi Arabia, with a global presence. Key clients include NTPC, Reliance, IOCL, JSW, L&T, ArcelorMittal, Nippon Steel, and the Tata Group. It holds over 50 patents and has commercialized more than 100 products. Its exports reach Africa, Japan, the Middle East, Russia, Southeast Asia, Europe, the UK, the USA, Canada, and neighboring countries.
- Namo eWaste Management Ltd– The company is a leading player in sustainable e-waste management and the circular economy, recycling e-waste to recover metals like copper, aluminium, iron, silver, gold, and mercury. Sourcing materials through B2B partners, e-waste aggregators, and B2C channels, it operates 26+ collection centres across India with in-house recovery systems. With recycling capacity set to grow from 30,500+ MTPA to 68,000 MTPA by Q3 FY26, the company stands among India’s largest formal recyclers.
- Enviro Infra Engineers Ltd– The company designs, builds, operates, and maintains water and wastewater treatment plants and water supply projects for government bodies. It specialises in Sewage Treatment Plants (STPs), Common Effluent Treatment Plants (CETPs), Water Treatment Plants (WTPs), and water supply schemes. The company has a total of 53 projects and, as of Q2 FY26, has an order book of Rs 2,733.3 crore.
Future Outlook:
India’s waste management sector is poised for exponential growth, driven by rapid urbanization, a growing population, and increased industrial and infrastructural activities. As sustainability and circular economy initiatives gain traction, demand for efficient collection, segregation, recycling, and disposal solutions are expected to grow further. Moreover, major players like Antony Waste Handling Cell Ltd., Namo eWaste Management Ltd., EMS Ltd., Va Tech Wabag, Gravita India Ltd., etc., are already contributing towards the transformation of the country’s waste management landscape. However, challenges such as low waste segregation rates, high operational costs, and the need for greater private sector participation remain crucial for achieving long-term sectoral growth and environmental impact.
Written By Adhvaitha Nayani BA
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