New Delhi (19/09/2019): To address the growing concern of plastic waste in India, 31 leading companies in the industry have joined forces to jointly launch Asia’s largest, first-of-its-kind, producer led and owned venture for creating a formal plastic circular economy in the country. Together, the participating companies will mobilize and converge assets, resources, and investment upwards of INR 1000 Crore.
Ahmed ElSheikh, President PepsiCo India, T. Krishnakumar, President Coca Cola India and South West Asia and Angelo George, CEO Bisleri launched the new producer led venture “Karo Sambhav —Closing Material Loops,” to create an efficient value chain for collection of post-consumer packaging and optimize material recycling processes.
The approach to setting up a new producer led venture was developed and incubated by Packaging Association for Clean Environment (PACE) for over a year with the objective of developing a transformative system which enables inclusion, ethics, transparency, good governance and traceability of waste.
