Paras Defence and Space Technologies

India’s 2021 Vehicle Scrappage Policy aims to retire 22 million end-of-life vehicles by 2030, generating 7 million tonnes of scrap annually. With over 20 million new vehicles added each year, India is the world’s third-largest automobile market. The policy has led to the creation of Registered Vehicle Scrapping Facilities and digital certificates of deposit to incentivize scrapping.