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.”
This partnership is contingent upon execution of definitive agreements.
About MKS PAMP GROUP
MKS PAMP GROUP is an integrated consortium specializing in all aspects of the precious metals industry, servicing the global supply chain from upstream to downstream. This family company was established over 60 years ago and is now an innovative global business serving precious metals producers, users, traders and consumers worldwide.
This leading precious metal group comprises five major companies: MKS PAMP, MMTC-PAMP, MTB, APMEX and GOLD AVENUE employing over 1450 people worldwide. The group has a local presence in key precious metal markets, through 2 refineries, 4 mints and 17 offices.
The group prides itself on its excellence in corporate and social responsibility, its leading role in developing an ethical and transparent value chain and constant innovation in its products and services.
About Karo Sambhav
Founded in 2017, Karo Sambhav is a market leader in enabling circular economy in India. It manages waste/end-of-life products across e-waste, plastics, batteries, and glass waste by establishing collection channels, high-quality recycling infrastructure, and solutions for secondary raw material utilization. It collaborates with leading enterprises, multi-laterals, and governments on Circular Economy and Extended Producer Responsibility (EPR) frameworks and has engineered an IT platform which fosters transparency, and traceability in waste collection, recycling and secondary materials management. Karo Sambhav has set-up collection channels in over 70+ cities covering all states of India and is establishing a network of recycling facilities of which two are operational. Recognized for its contributions to the circular economy, Karo Sambhav received the ‘Social Entrepreneur of the Year India – 2021’ award by the Schwab Foundation at the World Economic Forum.
