Tata Steel Managing Director and CEO T.V. Narendran has predicted that the global recycling industry will overtake mining by 2050, opening new frontiers in waste management, urban mining, and sustainable steel production.
Speaking at the platinum jubilee celebrations of the Singhbhum Chamber of Commerce and Industry (SCCI), Narendran said, “We believe that by 2050, the recycling industry will become bigger than the mining industry.”
Tata Steel has already taken decisive steps in this direction. Its Industrial By-products Management Division (IBMD) has reached a turnover of Rs 10,000 crore, with a strong focus on developing steel products designed for recycling and using high-quality recycled materials in production.
Narendran stressed the growing potential of urban mining, where valuable minerals are recovered from discarded electronics. “India may not have many critical mineral reserves, but it will consume large volumes of electronics. Extracting those critical minerals from e-waste is going to be a big and emerging industry,” he said.
He also reflected on the changing dynamics of industry under digitalisation, pointing out how smaller businesses are finding success through innovation and customer-focused solutions. “Today, customisation matters more than scale, and many smaller businesses are thriving thanks to the power of digital tools,” Narendran observed.
The remarks underscore Tata Steel’s strategic vision to integrate recycling and sustainability into its long-term growth plans, while also pointing to new opportunities for Indian entrepreneurs in urban mining and digital-led industries.
