Electronic waste is an emerging problem of entire world and a growing environmental menace. The growing population and insatiable demand for electronic devices is creating this world’s fastest growing waste stream. It is multiplied due to rapid buoyant economic growth, strong urge for digitally connected world, green energy initiatives and fast changing technology leading to rapid product obsolescence. These wastes are not only environmentally hazardous adversely but also causing loss of valuables and scarce materials like gold, silver, copper, platinum, palladium, rare earths etc. in addition to hazardous chemicals. The world produces 50 million tonnes e-waste annualy. Worldwide, only 20% of e-waste is handled appropriately, leaving large e-waste unused. Voluminous e-waste offers a huge economic opportunity with the material value alone worth $62.5 billion. Thus, e-waste is a precious resource for urban mining. Harvesting the resources from e-waste is largely less energy intensive and produces substantially less carbon-dioxide emissions than mining in the earth’s crust. It also offers an unparalleled opportunity for global businesses and workers worldwide. India is the fourth largest producer of e-waste in the world, generating about 2 million tonne annually, but recycling only 1.5% of total. Over 95% of e-waste generated is managed by informal sectors. Due to growing concern on e-waste management, many countries are adopting e-waste legislation. India also adopted legislation in 2016. India’s e-waste policy is environment centric rather than economic aspect. This global review on the subject, including focus on India is prepared in two parts and this part-I presents a review of e-waste statistics, potential of recovering rare earths and need to strengthen legislation. Part-II is focussing on the technologies available for the extraction of valuable metals including the Rare Earth Elements.