The treatment and disposal of industrial waste has become a critical economic and environmental issue with the ever-increasing rates of its generation. Industries in India, as major players in building the economy and GDP, expel about 7.4 million tons of hazardous waste annually, out of which around 3.98 million tons are recyclable for resource or energy recovery. India’s scenario in the usage of alternative fuel and raw material is less than 1%, which reflects a huge quantum of hazardous waste for potential usage in alternative fuel and raw material. The Netherlands, with around 83% of total hazardous waste, is the highest user of hazardous waste as alternative fuel and raw material in cement kilns. Uncontrolled waste management degrades land, ground water and air quality, leading to health risks to humans, animals and the ecosystem. Presently, industrial waste in most cases is disposed to landfills after incineration, without utilizing the full potential of the wastes through recirculation. The present study analyzed the current situation of the treatment facilities for attaining a sustainable management system using waste as alternative fuel and raw material for the disposal of hazardous waste. Through the alternative fuel and raw material concept, hazardous wastes can be used as a substitute for fossil fuels and/or raw material in a few types of industries. This will surely enhance the efficient recirculation of industrial wastes. This paper presents the overall view of Indian hazardous-waste generating industries, their locations, the potential of wastes as alternate sources of fuel to other industries, the use of alternative fuel and raw material by cement industries and applicable regulatory requirements.