The big message that I need to communicate is that the prospects of the PET recycling sector in general and your company in particular are at a cusp and Ganesha Ecosphere is attractively placed to capitalise any unprecedented opportunity in India’s recycling sector.
The Indian PET recycling context & our response
We would like to share some changes transpiring around us. One, the Indian Government has announced a recycling policy for rigid plastic packaging effective from FY 24-25 that brings our business into the mainstream. This has widened our ambition and provides a platform to accelerate growth. To capitalise on this opening, a new manufacturing facility in Warangal (South India) is being commissioned.
Two, the demand for quality recycled products by marquee apparel and lifestyle brands is rising. Many of these big brands are looking for partners who can supply high quality and sustainable recycled fibers, yarn & fabric. To address this opportunity, we are introducing the branded and noncommoditised value-added products under the new ‘Go Rewise’ brand.
This brand symbolises wise recycling, a platform for the next round of the Company’s growth. Three, as the awareness of ecoconscious products rises, retail customers and trade partners are willing to pay higher for preferred branded and recycled products. The Company is using latest cuttingedge technologies and efficiency in operations to address the customer’s expectations of superior quality. Four, we aim to achieve benchmarked sustainability through the supply of resource-efficient products, which will consume a higher proportion of renewable energy, lower water consumption and optimised resources.
At Ganesha Ecosphere, we are at a point from where growth is likely to be faster, broad-based (progressively de-risked) and more profitable. We are laying the foundation of a more sustainable organisation that could double our size in less than four years and enhance value for all those associated with our company. We aim to carve away a fourth of the Indian PET bottle recycling market. A rich multi-decade experience that continues to demonstrate young energy should translate into greater success.