The MVIRDC World Trade Centre Mumbai has entered into a strategic alliance with Bengaluru-based International Institute of Waste Management (IIWM) to promote sustainability concepts in bilateral trade, investments, technology transfers, joint ventures and other forms of business collaborations.
The two organisations signed a Memorandum of Understanding (MoU) that will facilitate exchange of business proposals in the areas of waste management and circular economy concepts.
“We have signed this MoU with a vision to conduct trade events and education programs on emerging business opportunities for MSMEs, start-ups and women entrepreneurs in waste management and circular economy. India has an immense opportunity to be a leading player in production and export of eco-friendly goods made from recycled or reused materials,” said Rupa Naik, Executive Director, MVIRDC WTC Mumbai.
Stating that sustainability and waste management are no longer local, but global in nature, P Bineesha, Executive Director, International Institute of Waste Management, said, “We have realised that sustainability and waste management are no longer local, but global in nature. In this era of climate change and global alliances such as the Conference of Parties (COP), our battle to protect the environment cannot be complete without involving trade and industry across borders.”
There is a compelling need to promote transfer of technologies that are environment-friendly among different nations, Bineesha said.
According to a report by NITI Aayog in 2021, India generated 55 million tonnes of municipal solid waste (MSW) annually, and this is expected to grow to 165 million tonnes by 2030.
The report points out that 50 per cent of the MSW is biodegradable wet waste, 35 per cent of it is non-biodegradable dry waste, while the remaining waste falls under other categories, which calls for promoting business opportunities in this segment.