Scrap market still untapped and unorganised, says Relia
The Indian scrap ecosystem is vast, yet under-digitised, according to Vineet Relia, Founder, Scrapcart which is building a scalable solution for industrial scrap including ferrous, non-ferrous, and e-waste that removes inefficiencies, empowers recyclers and makes responsible recycling not just possible but profitable.
“Our AI-powered tech platform brings in accountability, compliance, and growth across our value chain with minimum human intervention,” he said on 13 Aug, pointing out that there are over 62 million tonnes of waste generated annually in India, and the country’s scrap market stands at a massive value of US$18 billion http://meity.gov.in.
“However, this market is still untapped since scrap management and trade is an unorganised sector, one that is marked by middlemen ruling the roost, trust issues, logistics hassles, and compliance concerns,” said Relia http://commerce.gov.in.
Scrapcart is India’s first AI-powered marketplace for industrial scrap trade, and runs on the principles of price transparency, easy documentation, assured material quantity and quality, and strong ESG compliances. The cutting-edge platform offers real-time bidding for scrap, made reliable through digital audits, secure and timely payments, and seamless transactions.
As such, Scrapcart has entered the fray to streamline that process, and empower industries, MNCs, SMEs, and recyclers to responsibly dispose of their waste while unlocking timely value from scrap through smart technology https://www.bseindia.com/.
Scrapcart’s platform is designed to align with national circular economy objectives, including Swachh Bharat and extended producer responsibility (EPR) mandates.
The price of scrap in the market changes every day, making it harder for organisations to operate in a streamlined and consistent manner, without risks. Scrapcart hopes to eliminate the uncertainty from the process, by bringing structure and security to the scrap management process https://www.nseindia.com/.
With a managed services approach on end-to-end logistics, and a tech-driven approach for the discovery, sale, and purchase of scrap, the platform is designed to deliver maximum value, no matter the buyer.
Some of the salient features of Scrapcart’s process include:
No Middlemen: The platform digitises the conventional manual process of scrap sale and purchase to eliminate the traditional middlemen from the chain, and counter thefts and price leakages.
AI-Enabled: Scrapcart leverages Artificial Intelligence to develop tracking and estimation tools around volume, quality, and price estimation.
Digital Traceability: By enabling GPS tracking and digital weight slips, Scrapcart ensures automated documentation for every transaction.
Secure Payments: Using secure and paperless transactions, backed by escrow payments and digital contracts, every deal has a reliable payments process.
ESG & Regulatory Compliance: Digital audits and reporting tools to help enterprises meet sustainability goals and compliance benchmarks. Fiinews.com
