In a forward-looking statement that underscores the shifting industrial landscape, Tata Steel Managing Director and CEO T V Narendran has predicted that the recycling industry will outgrow the mining sector by 2050, creating vast opportunities for innovation, sustainability, and economic growth. Speaking at the platinum jubilee celebrations of the Singhbhum Chamber of Commerce and Industry (SCCI), Narendran emphasized the growing importance of waste valorization and by-product management in the global economy.
From Extraction to Regeneration: A Paradigm Shift
“For the last 100 years, mining has been very important and it will continue to be so, but recycling is becoming important too,” Narendran said. He highlighted that Tata Steel is actively investing in recycling, driven by the belief that managing by-products and adding value from waste will become central to industrial strategy.
Tata Steel’s ₹10,000 Crore Recycling Arm
Narendran pointed to the success of the Tata Steel Industrial By-products Management Division (IBMD), which currently boasts a turnover of ₹10,000 crore. The division focuses on designing steel for recyclability and producing high-quality steel from recycled materials, aligning with global trends in circular economy practices.
Urban Mining: India’s Next Frontier
With India lacking many critical minerals but consuming vast quantities of electronics, Narendran spotlighted the potential of urban mining—the process of extracting valuable elements from electronic waste.
“How can we take the critical minerals out of electronics? These are big and emerging industries,” he noted.
Digitalization and Customization: Leveling the Playing Field
Narendran also emphasized how digital tools are empowering small businesses, stating that scale is no longer the key to success—customization is. This democratization of technology is enabling startups and SMEs to thrive in the recycling and sustainability sectors.
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