Page 50 - Plastics News March 2026
P. 50
BUSINESS NEWS
INDIA’S NEXT PHASE OF PLASTIC RECYCLING WILL SHIFT FROM VOLUME-
DRIVEN OUTPUT TO FOOD-CONTACT-COMPLIANT, GLOBAL-STANDARD POLYMERS:
RAVINDRA P V, SRICHAKRA POLYPLAST
ndia’s plastic recycling industry is enter- `227.25 crore, while profit rose to `2.85 crore.
ing a transformative phase, moving beyond This compares with revenue of `109.92 crore
Ivolume-driven output to focus on producing and profit of `0.85 crore in FY24, and `108.76
high-quality, food-contact-compliant recycled crore revenue with `3.99 crore profit in FY23.
polymers that meet global standards. According
to Ravindra Venkata Paruchuri, Co-founder and India in the Global Context
Managing Director of Srichakra Polyplast, the India generates approximately 9.3 million tonnes
shift marks a structural evolution in the country’s of plastic waste annually. A large informal recov-
recycling ecosystem. ery network plays a crucial role in early-stage
collection and sorting, contributing to high re-
India currently recovers nearly 80% of rigid plas-
tics, making it more efficient than many devel- covery efficiency. However, as regulatory stand-
oped economies. Overall, the country processes ards tighten, challenges related to feedstock
close to 60% of its plastic waste significantly consistency and traceability are becoming more
above the global average. However, Paruchuri pronounced.
notes that the industry’s next stage will not be Compliance-Led Transformation
defined merely by volumes but by compliance,
traceability, and standardisation. A major driver of change is India’s evolving Ex-
tended Producer Responsibility (EPR) frame-
“Going forward, the focus will be on producing work. Recycled-content mandates for rigid plas-
certified, food-contact-compliant recycled poly- tic packaging are expected to rise from 30% to
mers that meet stringent domestic and interna- 60% by FY29. These requirements are compel-
tional benchmarks,” he said. ling recyclers to upgrade processes and ensure
higher levels of quality assurance and supply
Expansion and Financial Growth consistency.
Founded in 2010, the Hyderabad-based recycler Technology and Standards
is aggressively scaling operations to align with
this transition. The company is targeting revenue Srichakra began commercial food-grade bottle-
of `1,000 crore by FY27, backed by capacity ex- to-bottle recycling in 2021 using EFSA- and US
pansion across Telangana, Tamil Nadu, Gujarat, FDA-approved solid-state polycondensation
and other regions. By 2026, its total recycling (SSP) technology. The company has strength-
capacity is projected to reach 113,600 tonnes. ened its washing, decontamination, and trace-
ability systems to produce compliance-grade
Financial performance reflects this growth tra- recycled polymers suitable for domestic and in-
jectory. In FY25, revenue more than doubled to ternational brand owners.
50 PLASTICS NEWS March 2026
