Segregation and waste management eco-system to be in place could take multi- billion dollar investment of around $25 billion or Rs 1,50,000 crore.Come October 2 and the Union government is likely to announce a ban on single-use plastic products. This is expected to impact most industries since this forms part of packaging and hence linked to all industries directly or indirectly. Currently, most people seem to be seeking clarity on nuances around what qualifies for single use and what does not, the type of plastics we are talking about and for what usage they are all meant for.
But, banning its usage while is a welcome move to save the environment, it is only one side of the story. Arvind K Singhal, chairman Technopak, leading management consulting firm focusing on retail, feels along with any move to impose a ban, there should also be equal emphasis on recycling and waste management. "Given the size and scale of India we are talking of a need for a very comprehensive waste collection, segregation and waste management eco-system to be in place, which could take multi- billion dollar investment. My guesstimate is that we would be talking of an investment of around $25 billion or Rs 1,50,000 crore," he says.