Mumbai, January 24, 2025 – MKS PAMP GROUP, a global leader in precious metals trading, refining, minting and e-commerce, and Karo Sambhav, a leading player in India’s circular economy sector, today announced that the two companies are moving towards a strategic partnership to advance e-waste recycling and the recovery of precious metals as well as critical raw materials in India. The announcement was made at the World Economic Forum (WEF) Annual Meeting 2025 in Davos, in the presence of François Bonnici, Director of the Schwab Foundation for Social Entrepreneurship and Head of Foundations, World Economic Forum; Marwan Shakarchi, CEO of MKS PAMP GROUP; and Pranshu Singhal, Founder of Karo Sambhav.

Leveraging the two companies’ complementary strengths, the collaboration aims to address the growing e-waste challenge. MKS PAMP GROUP has established presence in India through its subsidiary MMTC-PAMP and has a state-of-the-art recycling facility in Haryana, opened in 2022 to serve local industrial and secondary markets. Meanwhile, Karo Sambhav’s expertise in e-waste management positions it as an ideal partner for developing cutting-edge e-waste recycling infrastructure, technology and ecosystem. Together, MKS PAMP GROUP and Karo Sambhav aspire to create scalable solutions for sustainable resource recovery in India.

Addressing the global e-waste challenge
India, the third-largest generator of e-waste globally, produced over 4.1 million tons in 2022, representing more than 10% of global e-waste, according to the Global E-waste Monitor 2024 Report. However, there are significant gaps in collection and recycling e.g. there are no best-in-class recycling solutions for printed circuit boards (PCBs) and components. This partnership seeks to bridge these gaps by creating a robust and scalable infrastructure for sustainable e-waste management.

“This collaboration will mark a critical step toward addressing one of the most pressing environmental challenges of our time,” said Marwan Shakarchi, CEO of MKS PAMP GROUP. “By combining MKS PAMP GROUP’s technical expertise and operational capability in precious metals refining and manufacturing with Karo Sambhav’s comprehensive e-waste collection systems and recycling solutions, we aim to set new benchmarks for material circularity and support India’s transition towards a sustainable future.”

Economic and environmental benefits
The strategic partnership is expected to:

• Recover high-value metals such as gold, silver, and copper, collectively valued at over $5 billion, according to the Grand View Research’s report.
• Ensure responsible recycling of PCBs and components reducing environmental and health risks associated with their improper management and rudimentary recycling methods.
• Foster material circularity and support India’s goals outlined in the National Resource Efficiency Policy and the National Policy on Electronics.

Pranshu Singhal, Founder of Karo Sambhav, commented, “India is in a unique position to lead the way in solving the e-waste challenge across emerging markets. By partnering with MKS PAMP GROUP we expect to enable the implementation of the best-in-class solutions for recovery of critical materials and catalyse the transition to a circular economy. These materials are essential in manufacturing of high-value goods, and strategic technologies like including ICT electronics, clean-technology devices, and low-carbon technologies. This also aligns perfectly with Make in India initiative, leading to an Atma Nirbhar Bharat (‘self-reliant India’).”

Aligned with Global Sustainability Goals
This initiative supports the World Economic Forum’s 2025 theme, “Collaboration for the Intelligent Age,” by addressing the complex challenges of e-waste and critical raw material recovery through innovative partnerships.

François Bonnici, Director of the Schwab Foundation for Social Entrepreneurship and Head of Foundations at the World Economic Forum, highlighted, “This partnership between a pioneering social enterprise and an industry leader in precious metals demonstrates the increasing support and investments in social innovation from the private sector. It also exemplifies the collaboration and collective action necessary to scale solutions for achieving a circular economy and addressing global resource challenges.”