New Delhi, Nov 28 (IANS): Various sectors in the Water, Sanitation and Hygiene (WASH) and Waste Management field can collectively attract $8 billion investments by 2030, up from $3 billion in 2020, and create revenues of $75 billion, up from $30 billion in 2020, a new report has said.
"Our research shows that overall, WASH & Waste Management will evolve to a sector of $111 billion by 2030, impacting 1.1 billion people and creating 1.2 million jobs," founder of Aspire Circle & Creator - Impact Future Project, Amit Bhatia said.
Impact Future Project (IFP) is a collaborative thought leadership platform for leaders from business, investment and non-profits to create research & knowledge, awareness & advocacy and education and training for the imminent Impact Economy.
"With 56 per cent of the population lacking access to basic sanitation, India ranked number one in the list of the 10 worst countries in terms of basic sanitation facilities in 2017. In fact, due to poorly managed or unavailable WASH facilities, India loses over 5.2 per cent of annual GDP, amounting to almost $106 billion, larger than any other country in the world," a statement issued by the IFP said.
"Yet, the Swachh Bharat Mission has ensured that there is considerable progress. By 2023-24, India's Swachh Bharat Mission is projected to result in annual savings amounting to 7.7 per cent of GDP even as the sanitation economy has doubled between 2017 and 2021," it added.
This has been in keeping with the spirit of the United Nations' Sustainable Development Goals (SDG) envisioning universal access to WASH services for all its member countries by 2030.
Highlighting the opportunities in WASH and Waste Management services, the report - released earlier this week -- outlined the following investment ideas: drinking water; desalination plants; liquid waste management: black water treatment and grey water treatment; faecal sludge collection & transportation; waste to energy, solid waste management: recycling, collection & transportation; communal facilities and sanitation workers skilling and safety equipment.
Former top banker, who is now with the Federation of Indian Chamber of Commerce & Industry (FICCI), Naina Lal Kidwai, said: "Cleanliness and order are not matters of instinct; they are matters of education. While the Swachh Bharat programme has pushed us to ensure an Open Defecation Free environment, innovation and technology is critical in building sustainable and long lasting infrastructure, good habits and strong communication models. Building entrepreneurs in sanitation and replicating success stories will help secure a healthy and clean India."
"WASH and waste management are areas which urgently require investment, not only to meet our SDG commitments but also because there exists a compelling business opportunity," said VC and MD, Triveni Turbine Nikhil Sawhney, one of the group members.