This paper deals with strategic management of end-of-life (EOL) solar photovoltaic (PV) e-waste generated in developing countries like India. SMEs play an essential role in applying a circular economy for e-waste. The present study mainly focuses on developing an organized recycling infrastructure in India for solar PV EOL e-waste and its balance of systems. The economy and weight share of twenty-one metals present in the solar PV systems have been discussed in the research. Further, the study designs a circular supply chain for e-waste, followed by a cost-benefit analysis for the recycling of EOL solar PV to attract SME investors. The paper has used material flow analysis for managing e-waste as per the requirement of a circular economy for designing recycling, remanufacturing, refurbishing strategy, and assessment of resource-efficient regulations. The research would help policymakers to modify or develop afresh policies like extended producer responsibility and producer responsibility organizations.