Pre-Budget Quote on Technology by Yug Bhatia, Founder and CEO of Control Z
Below the Pre-Budget Quote on Technology by Yug Bhatia, Founder and CEO of Control Z
As the 2025 Union Budget approaches, there is a prime opportunity for the government to prioritize the growth of the circular economy and sustainable technology sectors. The global refurbished smartphone market is growing at a 10.23% CAGR, and India’s e-waste management industry is projected to reach $7.5 billion by 2025, highlighting the immense potential for sustainable innovation. To capitalize on this, the government should focus on introducing tax incentives for electronics refurbishment and recycling, which would reduce e-waste while encouraging sustainable consumption practices across industries. Additionally, investing in research and development for green technologies and advanced recycling methods can position India as a leader in sustainability and innovation. Further, with more than 70% of Indian consumers now open to purchasing refurbished products, public awareness campaigns can drive a significant shift in consumer behavior, expanding demand for sustainable technology. By supporting these initiatives, the government can help foster a thriving circular economy, reduce environmental impact, and establish India as a global leader in the sustainable technology space. This budget provides a chance to drive both environmental and economic growth while advancing India’s position in the global green tech movement.
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