Factors Affecting the Growth of Eco-entrepreneurship in the Solid Waste Management Sector in India

Abstract

Eco-entrepreneurship addresses ecological degradation using market mechanisms primarily using circular economy principles. The current research examines the factors affecting eco-entrepreneurship growth in India’s solid waste management sector. The challenges in India’s waste management landscape are multifaceted, stemming from intricate socio-economic and cultural factors. Government agencies tasked with waste management have grappled with inadequate infrastructure, outdated technology, and frail governance structures, leading to their inability to address the waste issues effectively. However, the commitment by the Indian government to environmental protection and the actions of eco-responsible business organisations, among other factors, led to a conducive environment for eco-entrepreneurs to thrive. Drawing from the examples of several actors and cases, this study explored that the growth of eco-entrepreneurship in India’s solid waste management sector can be attributed to the implementation of stricter environmental regulations, eco-responsible practices by business organisations, investors’ preference for ecological performance, activism by civil society organisations and courts of law, and adoption of eco-values by consumers. Further, this study attempts to chart a path towards understanding eco-entrepreneurship and how it differs from social and sustainable entrepreneurship by focusing on the planet and profit dimensions of the People-Planet-Profit framework.