Globalisation has significantly impacted several parts of the economy. As for the term, globalisation refers to the rapidly increasing interdependence of the economies, cultures, and populations throughout the world. There are multiple essential resources that play a vital role in bringing a hike in the economy globally. However, as far as OECD (Organisation for Economic Co-operation and Development) countries are concerned, metal recycling is one of the top-ranked industries in terms of an increase in employment, investment, and turnover. Though it might seem unrealistic, the recycling industries employ more than 1.5 million people with an approximate turnover of $160 billion, whereas the physical input is greater than 500 million tonnes.
There are a few remarkable entrepreneurs who noticed the economic gap and found a way to fill it by establishing new metal recycling firms in the industry. However, only a few kept on moving forward with the vision to make a significant impact. Shravan Bansal, a 24-year-old businessperson, is one of the visionaries who continued with the journey of making the OECD countries flourish economically. This young entrepreneur aims to stabilise the economy of OECD countries with the least focused industry – metal recycling. Shravan believes in learning in his own way through setbacks and experiences. He is of the view that practical knowledge is the key to success, and no degree can provide that.
According to EU Comext data, 74.44 percent of the ferrous metal waste goes to OECD countries and 25.56 percent to non-OECD countries. These stats clearly show that OECD countries tend to receive more metal waste compared to other countries. This motivated Shravan Bansal to establish a metal division named AD’s Leading Metals under his company, AD Leading Limited. This separate division deals with the scrap recycling industry as a completely different vertical. On how it all started, he shared that his professional journey began when he was just 18 years old. However, it didn’t take long for this dynamic personality to establish his first company. Currently, he is a shareholder and first director of three businesses; two are based in India, while one is UK-based with a £300m value in a pre-revenue stage.
Shravan Bansal’s OECD economic success lies in the fact that he wanted to solve the problem in developed economies. “As an industrialist who surfaced from the ground, I believe metal is the spine of any operation, existence and growth. These OECD countries do not manufacture metals. In fact, these import-based economies are driven to recession and supply chain havoc due to no manufacturing,” he shares the thought behind it all. Shravan is hopeful that his business will promote secondary industries in OECD countries. By enabling metal manufacturers and recyclers to trade without risk, Shravan plans to make these economies thrive.
It is no secret that non-ferrous metals like copper, aluminium, lead, tin, nickel, and zinc play a vital role in OECD countries to improve their economy and help flourish. These metals acquire chemical properties which can undergo repeated reprocessing and recycling, making them essential in preserving sustainability in resource conservation. These metals are desirable for many industries because of their low weight, high conductivity, non-magnetic properties, and resistance to corrosion. Non-ferrous metals are actively used in the automotive, construction as well as iron and steel industries.
OECD countries have a great development rate, but despite the growth, they have an unreasonable inflation rate mainly due to the active import of metal. If these countries increase their in-house metal recycling, they can significantly improve the economic condition. Apart from that, high production will decrease the inflation rate. Hence, bringing in more companies into the recycling arena will boost its overall economic growth.
When it comes to saving the economy, conserving energy tops the list. That is because saving energy directly adds to the conservation of monetary resources and is an imperative aspect of sustainable development. This is not all! The fact is that recycling saves approximately 5,774 kilowatt hours of electricity, 16.3 barrels of oil, 98 million British thermal units of energy, and thirty cubic yards of space in landfills, thus resulting in massive growth in the economy.
From stabilising the economy of OECD countries to booming the least highlighted industry, Shravan Bansal is a prodigious businessman who covers all the corners. His vision is to bring buyers and sellers of non-ferrous metal from all over the world on one platform and work strategically to achieve sustainability. Moreover, Shravan encourages others to step into metal recycling to deliver maximum output while saving the environment at the same time.