Overview on Scrap Import Business registered under SPCB
To start the scrap import company is the goal of many businessmen. If an importer continues with the scrap import business, it can be anticipated that an import business is considered to be very prosperous and profitable. Loads of products are purchased, sold, and circulated every day throughout the world. Many industries are involved in scrap businesses, such as metal scrap, plastic scrap, electronic goods, copper, computers parts & zinc materials, etc. To start an Import Company, one needs to have a clear understanding and proper guidance of the foreign market. The importer must comply with all the government Laws before setting up an import company.
Import of Scarp products
Any individual who wants to import scarp products needs authorization from the concerned authority MOEF/SPCB.
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Types of Business in Scrap?
List of Scraps
Plastic Recycling Business- Plastic is a non-biodegradable polymer considered harmful to the environment. Unlike biodegradable materials, plastic cannot be broken down naturally. The recycling of plastic bottles and other commodities give us the basic idea of economic prospects. The plastic recycling business can be highly profitable if proper strategic planning is implemented.
Paper Recycling- The waste paper recycling process frequently includes combining used/old paper with water and chemicals. It is then chopped and heated, which further breaks it down into cellulose strands, a sort of organic plant material; pulp, or slurry, is the resulting mixture. It is pressed through screens that remove the plastic (particularly from plastic-coated paper). Then it can be turned into a new paper that is recycled.
Metal Scrap- A scrap metal depot can be specialized and run to sell various recycled metals to metal recycling companies. Alternatively, specialize in a single method of scrap metal gathering and recycling. Having a scrap metal recycling company is similar to having your company listed on the stock exchange the day it starts for business. Metals are commodities, and their prices fluctuate depending on supply and demand, which are frequently forecasted a year or more in advance for certain metal forms. Overall, this is a wonderful option for the recycling business.
Documents required to commence Scrap import Business
What are the facilities required in the scrap Business?
Procedure for Import of Scrap material
Ministry of Environment & forest deal with the import of scrap materials. Importing hazardous wastes from a country to India for disposal is prohibited. Still, it is permitted for recycling, reuse, recovery, and co-processing, and the actual user and trader can obtain a license for hazardous waste import.
Validity of the authorization for import of scrap material
The certificate of authorization for importing scrap materials shall be valid for five years.
