Importance of Participation in the Circular Economy amid India’s increasing Smartphone Penetration

India is among the world’s fastest-growing digital economies, with a smartphone penetration of more than 600 million. The number of smartphone users is expected to increase to 1bn by the year 2026, mainly driven by rural consumption and the government’s push towards a Digital India.

This upward trend has also poised India to emerge as the second-largest smartphone manufacturer in the next five years, supporting the government’s vision of ‘make in India’. Local manufacturing aids faster product roll-out and effective pricing while ensuring better employment prospects for the local population. While the faster uptake and increase in local manufacturing is encouraging, one should not ignore the possible burden on the environment and natural resources going forward. A Global E-waste Monitor Report 2020 also highlights that India’s e-waste production has increased to 3.23 million metrics. This indicates an urgent call for action from not just the local authorities but also individuals and businesses to curb possible carbon emissions. It is time that we move towards a circular economy to curb e-waste and limit carbon emissions.

As part of the Circular Economy, brands transform every element of their product to the sales cycle, including resources management, manufacturing and usage of products and analysing the possible usage of materials afterwards. The whole purpose is to benefit the people and environment together for a thriving circular economy.

Instore collection to promote recycling

Recycling e-waste might not be easy for many consumers. As a brand, we have access to the right partners and platforms that can help with effective recycling. Educational programmes and promotional schemes offering buy-back value for old devices can be a great motivator for people to return their old devices to a professional channel.

Brands should also place collection boxes for outdated and broken phones, encouraging consumers to explore proper channels to discard their e-waste.

Effective after-sales service and offerings

Offering efficient after-sales service doesn’t just help with consumer engagement across various touch points but also plays a key role in increasing the life efficiency of a device. Offers, including insurance and warranty extension, are key to safeguarding the phone’s performance and durability. It will be needless to say how a wholesome after-sales experience has helped various brands build customer loyalty.

Use alternate energy to reduce the carbon footprint at the office and store level

Every day tonnes of carbon is released through air conditioning and electricity consumed across the stores. By moving to greener mediums, brands can reduce their dependence on depleting resources and control their carbon footprint.

Views of the author are personal and do not necessarily represent the website’s views.

An award-winning global business leader with over 17 years of experience, Madhav Sheth is the CEO, realme India, VP, realme and President, realme International Business Group. He spearheads the company’s strategy development, product engineering, business development, market operations and brand-building initiatives alongside others. Madhav is fully responsible for realme’s overseas business operation, reporting directly to the founder and CEO of realme, Sky Li.