(From left) Amit Chandra, honorary chairperson, governing council, Harsh Mariwala, founder, and Dr Raghunath Mashelkar, governing council member and chairperson emeritus of Marico Innovation Foundation, which is working with 15 startups to help them create scale and impact
Image: Madhu Kapparath
India’s plastic consumption and waste generation have both increased dramatically over the past five years. While consumption was at 19.8 million tonnes in 2019-20, and growing at a CAGR of 9.7 percent, waste generation is at 3.4 million tonnes up from 1.6 million tonnes in 2016-17 and growing at a CAGR of 20.7 percent, says the Marico Innovation Foundation’s (MIF) ‘Innovations in Plastics: The Potential and Possibilities’ report. Of the total 3.4 million tonnes waste generated, only 30 percent is recycled, the rest finds its way into landfills.
(This story appears in the 24 February, 2023 issue of Forbes India. To visit our Archives, click here.)