Waste management and circular economy are key areas of focus in our overall strategy to promote sustainable economic development. MVIRDC World Trade Center Mumbai signeda Memorandum of Understanding (MoU) with Bengaluru-based International Institute of Waste Management to promote sustainability and waste management concepts in bilateral trade, investments, technology transfers, joint ventures and other forms of business collaborations.

Speaking on the occasion, Ms. Naik remarked, “We have signed this MoU with a vision to conduct trade events and education programs on emerging business opportunities for MSMEs, start-ups and women entrepreneurs in waste management and circular economy. India has immense opportunity to be a leading player in production and export of eco-friendly goods made from recycled or reused materials.”

In her remarks, Ms. P. Bineesha pointed out that sustainability and waste management are no longer local, but global in nature. She further added, “In this era of climate change and global alliances such as Conference of Parties (COP), our battle to protect environment cannot be complete without involving trade and industry across borders. There is a compelling need to promote transfer of technologies that are environment-friendly among different nations.”

According to a report by India’s think-tank NITI Aayog in 2021, India generates 55 million tons of municipal solid waste (MSW) annually, and this is expected to grow more than three-fold to 165 million ton by 2030. The report points out that 50% of the MSW is biodegradable wet waste, 35% of it is non-biodegradable dry waste, while the remaining waste falls under other categories, which calls for promoting business opportunities in this segment.

In Photo: Ms. P. Bineesha, Executive Director, International Institute of Waste Management, Bangalore (right) exchanging Memorandum of Understanding (MoU) with Ms. Rupa Naik, Executive Director, MVIRDC WTC Mumbai