Tata Steel MD T.V. Narendran predicts the recycling industry will surpass mining by 2050, highlighting major opportunities in waste management, urban mining, and sustainable steel production.
Tata Steel’s Managing Director and CEO, T.V. Narendran, has projected a transformative shift in the industrial landscape, stating that the recycling sector is expected to outgrow the mining industry by 2050. He shared these insights while addressing a session organized by the Singhbhum Chamber of Commerce and Industry (SCCI) as part of its platinum jubilee celebrations.
“We believe that by 2050, the recycling industry will become bigger than the mining industry,” said T.V. Narendran, Managing Director and CEO of Tata Steel. “
He revealed that Tata Steel is actively expanding its presence in the recycling sector through its Industrial By-products Management Division (IBMD), which already generates an impressive turnover of Rs. 10,000 crore. The company is focusing on innovations such as designing steel products optimized for recycling and developing high-quality steel using recycled materials. Narendran also spoke about the growing potential of urban mining, particularly in India. He explained that although the country lacks reserves of many critical minerals, its increasing consumption of electronic devices could fuel a new industry focused on recovering valuable materials from e-waste.
“There are also many opportunities in what we call ‘urban mining’. India may not have many critical minerals, but it will consume a lot of electronics, so how can we extract those critical minerals from electronic waste? These are big and emerging industries.” – said T.V. Narendran, Managing Director and CEO of Tata Steel.
In addition to the discussion on recycling, Narendran highlighted the impact of digitalisation on industry dynamics. “Today, customisation matters more than scale, and many smaller businesses are thriving thanks to the power of digital tools,” he noted.
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