Waste Management and Recycling is a 5 Lakh Crore Market: Nitin Gadkari

Urging Niti Aayog to formulate a policy for waste recycling, Union Minister Nitin Gadkari said converting waste into wealth offers a more than Rs 5 lakh crore opportunity in the country. Gadkari said the policy can create huge employment potential and can bolster the country's economic growth.

"Economy of this waste recycling is of more than Rs 5 lakh crore. It has huge potential. NITI Aayog can formulate a waste recycling policy. This policy will see the economic transformation of the country and create huge employment potential," Gadkari said addressing an international conference on 'Sustainable Growth through Material Recycling' at Pravasi Bhartiya Kendra, in New Delhi.

The Road Transport, Highways, Shipping, Water Resources, River Development and Ganga Rejuvenation Minister said efforts should be made to convert waste into wealth.

He said there are 12 thermal power plants along the sides of the Ganga river and the power ministry has issued an order making it mandatory for plants within 50 km distance of the Ganga to use recycled water.

"These are the new things which are going to create a great impact on our environment, economy and at the same time it is going to lead to socio-economic transformation process. If we can formulate the policy for waste ... This can be useful for creation of employment and eradication of poverty," the minister said.

He said waste in India is a huge problem but this can be solved through a holistic policy taking into confidence various related ministries like Highways, Urban Development and Agriculture.