DECEMBER 20249INDIA'S PET RECYCLING INDUSTRY SETS GLOBAL STANDARD FOR SUSTAINABILITYINDIA SETS PACE IN CLEAN TECH INVESTMENT AND SOLAR DEVELOPMENT OVER CHINAIndia has emerged as a leader in clean technology funding in the past few months as attempts have been made to develop local green manufacturing to attract investors. Sixty-four transactions valued at around $2.4bn were completed in the third quarter, four times the volume in China and second only to the US.India's Polyethylene Terephthalate (PET) recycling industry which has the world's largest raw material capacity invested 10,000 crore during the last three years and is looking forward to double that in the near future, recycling companies stated.India recycles as many as 95 percent of PET bottles every year with the capacity PET with the capacity of five The acceleration of solar development is due largely to New Delhi's drive to develop indigenous sources of clean energy to decrease dependence on China and the opportunity to become a net exporter of the technologies Pai, the founding partner of GEF Capital Partners, a climate-focused private equity fund.Waaree Energies Ltd, a manufacturer of solar panels, and Ola Electric Mobility Ltd are among more than a dozen new renewables and electric vehicle firms listed this year clean power firm NTPC Green Energy Ltd, started trading in the last month and its shares rose by 30 percent.While there are roughly 800 climate-focussed startups in India, only a quarter of them have managed to raise capital over the last decade, and the total raised sum of $3.6 Bn is significantly lower than the $19.5 Bn plus raised by fintech during the same period, according to IIMA Ventures and Mitsubishi UFJ Financial Group Inc in a September report.However, the climate technology market is expected to grow quickly as firms seek to solve the problem of pollution that India is the third-largest emitter of greenhouse gases. lakh tonnage. He said that the policies on the part of the government, including the requirement for 30 percent recycled content in plastic packaging by 2025, have contributed to the investment, mentioned Bhadresh Dodhia, Director of the Association of PET Recyclers (Bharat).The plastics recycling market of India currently standing at 9.9 million tonnes in 2023 is expected to reach 23.7 million tonnes by 2032 with a CAGR of 9.86 percent. Experts put focus on technology, food-grade ARPET granules, and 50 lakh rag pickers to drive the sector.Speaker Taher Patrawala from Media Fusion, Inc. shared insights into the private sector's efforts toward the circular economy transition and decreasing virgin material use. Matthew Barber of Crain Communications pointed out that India recycles 60 percent of its waste, which is higher than the global average of 9 percent. The comments were delivered at the UTECH India Sustainable Polyurethane & Foam Expo and Plastics Recycling Show India in Mumbai, where experts from the global industry, major players, and over 150 key exhibitors gathered to emphasize elaboration of sustainable trends in the sectors of polyurethane, foam and plastics recycling.
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