Author: Aditya Pareek | EQMint | Opinion Article

A New Kind of Supply Chain Revolution

For decades, India’s recycling industry operated in silos — fragmented, informal, and largely invisible to mainstream business and finance. But that’s changing fast. A new generation of companies is turning waste into a structured, data-driven, and profitable enterprise.

At the centre of this transformation is Race Eco Chain Ltd., one of India’s fastest-growing circular-supply-chain networks for recyclables. By connecting waste suppliers, aggregators, and recyclers on a single digital platform, the company is creating the backbone of India’s emerging green economy.

From Scrap to System: The Race Eco Chain Model

What makes Race Eco Chain different is its vision to digitise India’s recycling value chain — traditionally dominated by offline transactions and intermediaries.

Through its proprietary Race App, the company allows suppliers, traders, and recyclers to buy and sell scrap materials seamlessly, track deliveries, schedule pickups, and receive payments transparently. With over 300 suppliers across India and partnerships with several leading recyclers, Race Eco Chain is now streamlining waste logistics for industries that want both efficiency and ESG compliance.

The Bigger Market in Play

India’s plastic recycling market is set for robust growth:

• • The India waste plastic recycling market reached approximately 10.9 million tonnes in 2024 and is forecast to reach 25.4 million tonnes by 2033 (Source: IMARC Group).

• • The India recycled-plastics market (value) was around USD 4,245.9 million in 2024 and is projected to reach USD 6,524.3 million by 2033 (Source: IMARC Group).

• • The India plastic recycling services market generated USD 747.8 million in 2024 and could reach USD 1,673.6 million by 2030, growing at a CAGR of ~14.5 % (Source: Grand View Research).

• • Globally, the recycled-plastics market is projected to grow from USD 51.70 billion in 2023 to USD 96.48 billion by 2030, a CAGR of ~9.5 % (Source: Grand View Research).

This growth is driven by rising consumption, urbanisation, packaging demand, and regulatory thrust (for example, Extended Producer Responsibility or EPR).

Climate Change & Circular Economy Link

The recycling industry isn’t just about waste management — it’s increasingly about climate mitigation and resource efficiency. As global production of plastics is projected to nearly double by 2050, the environmental burden is becoming acute.

Recycling helps reduce landfill emissions, plastic leakage into oceans and rivers, and the carbon footprint of virgin-plastic production — all critical to climate goals. For India, recycling and circular manufacturing help brands reduce Scope 3 emissions, align with climate targets, and unlock new business opportunities.

Companies like Race Eco Chain operate at the intersection of business growth and climate responsibility, making them relevant not just to recyclers, but to corporates, policymakers, and capital markets alike.

Collaboration as a Catalyst: The Ganesha Ecosphere JV

A key strategic initiative for Race Eco Chain is its joint-venture with Ganesha Ecosphere Ltd., India’s largest PET recycler. The partnership aims to significantly strengthen the supply of high-quality rPET (recycled PET) flakes and upstream recycling infrastructure.

Key details:

• • The joint venture entity, Ganesha Recycling Chain Private Limited, was incorporated on 10 September 2024.

• • Race Eco Chain holds approximately 51 %, while Ganesha Ecosphere holds about 49 % in the JV.

• • The JV will establish multiple PET-bottle washing lines across India, converting waste PET bottles into reusable flakes — closing the supply-chain gap for rPET.

This represents forward integration for Race Eco Chain — moving from digital logistics to physical recycling capacity. It strengthens profitability, ensures direct material traceability, and positions the company as an end-to-end circular-economy enabler.

This collaboration underscores how India’s recycling value chain is moving beyond collection and sorting to include high-value manufacturing, quality assurance, and innovation — areas that attract business leaders and investors seeking sustainable scale.

Towards an ESG-Compliant and Green Supply Chain

In today’s business climate, sustainability is not just a moral imperative — it’s a market differentiator. Large corporates and listed entities are under increasing pressure from investors, regulators, and global buyers to demonstrate measurable ESG performance.

Race Eco Chain’s operations directly support this vision by integrating the core pillars of a Green Supply Chain:

1. Green Sourcing

The company promotes the procurement of recycled and responsibly collected materials from verified suppliers. Its digital platform ensures transparency in sourcing — helping brands trace every tonne of recyclable input, reduce virgin-material dependency, and align with EPR and sustainability certifications.

2. Green Manufacturing

Through its JV with Ganesha Ecosphere, Race Eco Chain is driving cleaner production practices by converting waste PET bottles into high-quality rPET flakes. This supports low-emission manufacturing and reduces reliance on fossil-fuel-based raw materials. It also enables industries to adopt recycled inputs without compromising product standards.

3. Green Logistics

The Race App digitises waste collection, transportation, and delivery scheduling — optimising routes, reducing idle trips, and cutting fuel emissions. By integrating logistics partners into one system, Race Eco Chain is building an efficient, low-carbon transport network for recyclables across India.

4. End-of-Life Product Management

Beyond collection, the company enables responsible end-of-life management for packaging and products through traceable recycling. It helps brands meet EPR obligations, document recycling credits, and ensure materials are reintroduced into the economy rather than landfilled or incinerated.

Together, these pillars redefine how businesses approach sustainability — from procurement to production, delivery, and disposal. Race Eco Chain is thus not only digitising recycling but greening the entire supply-chain lifecycle.

The EQMint Insight: Why This Sector Deserves Attention

The recycling and waste-to-value industry is no longer a side story — it’s becoming a core pillar of India’s green-growth strategy.

Companies like Race Eco Chain are not just cleaning up the environment — they’re building investable infrastructure for the sustainability economy. For business leaders, this is a reminder that ESG is not just compliance; it’s competitive advantage. For investors, it’s an emerging opportunity where impact and profitability converge.

About Race Eco Chain Ltd.

Race Eco Chain Ltd. is one of India’s fastest-growing digital platforms for recycling-supply-chain logistics. Through the Race App, it connects suppliers, aggregators, and recyclers across the country for seamless scrap trading, scheduling, and payments.

The company supports over 300 suppliers pan-India in achieving ESG and EPR compliance. Its strategic joint-venture with Ganesha Ecosphere Ltd. to develop advanced recycling infrastructure marks a key step in India’s shift toward a traceable and circular economy.

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Disclaimer: This article is based on information available from public sources. It has not been reported by EQMint journalists. EQMint has compiled and presented the content for informational purposes only and does not guarantee its accuracy or completeness. Readers are advised to verify details independently before relying on them.