September 14, 2023: Lead battery recycler Gravita has been upgraded from three stars to become a four-star export business under a scheme promoted by the Indian government.
Gravita announced on September 11 it had been awarded ‘four star export house status’ out of a maximum five-star rating.
Companies recognized under the scheme are those who have excelled in international trade and successfully contributed to the country’s foreign trade, according to the government.
Such companies are also expected to offer guidance and support to new businesses and entrepreneurs.
To achieve four stars, companies’ export performance should be worth the equivalent of $500 million for at least two out of four financial years.
Gravita CEO Yogesh Malhotra said last year that the company was eyeing opportunities to further expand its operations outside India.
Last month, Gravita said the group had started commercial production of lead at its battery recycling plant in the West African nation of Togo.