Sustainable Waste Management And Economic Performance Of Drug And Pharmaceutical Msmes In Kashmir

Abstract

Micro, small and medium businesses (MSMEs) in Kashmir’s pharmaceuticals and pharmaceutical industry are particularly placed in a dangerous position at the confluence of environmental duty and economic fragility. The research examines whether the implementation of sustainable waste management strategies has a statistically significant influence on the economic performance of pharmaceutical MSMEs in Kashmir Valley. Using structural equation modelling (SEM) augmented by regression analysis, the research draws on primary survey data collected from 210 registered pharmaceutical MSMEs across the districts of Srinagar, Baramulla, Anantnag and Pulwama to examine the relationship between waste segregation, effluent treatment, green procurement and compliance behaviour on the one hand, and profitability, operational efficiency, market access and regulatory compliance costs on the other. Findings suggest that firms that adopted formal waste management protocols exhibited a 23.7% improvement in operational efficiency scores versus non-adopters. Firms investing in effluent treatment plants reported moderating reductions in regulatory penalty expenditure up to 41% in a three-year window. The research also finds a strong mediation effect of green certification in enhancing the waste management–market access link. Theoretical and policy implications These findings have implications for both theory and policy. The findings challenge the prevailing story that compliance with environmental regulations is always a cost burden for small firms in conflict-affected and geographically peripheral regions. They provide actionable guidance for policymakers interested in embedding sustainability mandates into the MSME development agenda in Jammu and Kashmir following the abrogation of special status under Article 370 in 2019. This paper adds to the still embryonic literature on green MSMEs in South Asian transition economies, and also responds to an obvious regional research lacuna in the study on the pharma-sector and sustainability