Post-budget comment by Mr. Masood Mallick, Managing Director & CEO, Re Sustainability Limited (ReSL)
Mr Masood Mallick, MD & CEO, ReSL, said, "The budget outlines key initiatives to support sustainability and circularity in India. The removal of custom duty on waste and scrap from critical minerals, including Antimony, Beryllium, Cobalt, and Lithium-Ion batteries, aims to boost recycling and enhance use of circular minerals in manufacturing. A policy for recovery of critical minerals from tailings or by-products of mining can also emerge as a significant enabler for India's transition to a more circular economy.
Funds have also been allocated to strengthen the domestic manufacturing of clean technologies like solar PV cells, EV batteries, and wind turbines, which will enhance the country's renewable energy infrastructure. The ₹1 lakh crore Urban Challenge Fund focuses on sustainable urban development, addressing water management, sanitation, and city redevelopment. Finally, the commitment to developing 100 GW of nuclear energy by 2047 furthers India’s energy transition strategy, contributing to long-term sustainability.
These measures have the potential to significantly accelerate our sustainability and circular economy journey, towards our shared goal of a Viksit Bharat by 2047."
About Masood Mallick
Masood is the Managing Director & Group CEO of Re Sustainability Limited. He has worked with leading global corporations and investors on circular economy, climate change and sustainability issues, across four continents over the last three decades.
Before joining Re Sustainability, he served as Managing Director at ERM and was a pivotal member of ERM's Global Senior Leadership Team (SLT).
Masood has also advised the Government of India on environmental policy and legislation, including regulatory standards and the country's Sustainable Development Goals (SDGs).
He has led several national and international industry forums in the sustainability and circular economy space and is a recognised thought leader in these areas. He currently chairs the CII National Committee on Circular Economy (Waste to Worth Transformation).
About Re Sustainability
Re Sustainability Limited (ReSL), a KKR-backed Company, is one of Asia’s leading comprehensive environmental management service providers. ReSL offers a wide range of environmental services and infrastructure solutions and is India's largest recycling, resource recovery and circular economy Company.
ReSL has a growing global footprint, including over 100 operating locations in India, Singapore, the UAE, Saudi Arabia, Qatar, Kuwait, Oman, Tanzania, and the USA. Its dedicated workforce numbers over 22,000 people.
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