Page 10 - Bullion World Volume 03 Issue 07 July 2022

Bullion World | Volume 5 | Issue 09 | September 2025

• Value addition within India: By refining • Metal Scrap Recycling Policy, 2019 though
domestically, the full value of the metals is retained focused on bulk metals, it sets the tone for
within the country thereby generating revenue formalized recycling systems across the board.
for the exchequer and reducing dependency on • PLI Schemes for Critical Minerals proposes
imports for precious metals. incentives for recycling and refining minerals
• Employment generation: NITI Ayog CEO, Mr. essential for clean technologies.
Amitabh Kant mentioned in an interview that
Circular economy has the potential to create 1.4 Together, these initiatives recognize recycling as
Crore jobs in India. Precious metals circularity a strategic pillar of resource security. With globally
could also be an important contributor in accredited refiners operating in India, these policies
employment generation3. can be swiftly translated into impact.
• Supply resilience: Recycling secures raw materials
for industries like solar, electronics, and electric
mobility offers supply chain security which is
vital for India’s growth story especially in times of
complex geopolitical relationships. Conclusion

Circularity of precious metals, in short, can fuel The circular economy in precious
sustainable growth by turning waste into wealth, metals is more than a sustainability
dependence into resilience, and jobs into livelihoods.
buzzword, it is India’s chance
to align culture, economy, and
5. Policy and Ecosystem Enablers environment in a single framework.
With its vast appetite for gold
For India, the transition toward circularity is not and silver, a strong jewellery
happening in isolation. Policy momentum is building ecosystem, emerging green
steadily: industries, and secondary sources
• National Resource Efficiency Policy, 2019 (draft) of precious metals, it is uniquely
by the Ministry of Environment Forest & Climate positioned to become a global hub
Change envisions a systemic shift toward closed- for circular precious metals.
loop material flows, which includes precious
metals. As India moves forward, its
• E-Waste Management Rules 2022 mandate precious metals story will no
Extended Producer Responsibility (EPR), requiring longer just be about imports and
producers to ensure collection and recycling consumption. It will be about
of their products, unlocking a steady flow of responsible loops, domestic value
materials for precious metal recovery. Further, creation, and leadership in a global
plans are underway to broaden obligations across movement.
multiple sectors, deepening the circular economy
framework.

References
1. https://www.sciencedirect.com/science/article/abs/pii/S0956053X15004146
2. de Sa, P. and J. Korinek (2021-03-01), “Resource efficiency, the circular economy, sustainable materials
management and trade in metals and minerals”, OECD Trade Policy Papers, No. 245, OECD Publishing,
Paris. http://dx.doi.org/10.1787/69abc1bd-en
3. https://www.ficci.in/press_release_details/3431

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