Published on 21/03/2017 10:18:26 AM | Source: IANS
Indian packaging market expected to reach $32 billion by 2020
The Indian packaging market is expected to reach $32 billion by 2020, said N.C Saha, Director, Indian Institute of Packaging (IIP).
The Indian packaging industry constitutes about 4 per cent of the global packaging industry. The per capita packaging consumption in India is quite low at 8.7 kg, compared to countries like Germany and Taiwan where it is 42 kg and 19 kg respectively, Saha told reporters here on Monday.
However, organised retail and boom in e-commerce, which offer huge potential for future growth of retailing, is giving a boost to the packaging sector.
Saha announced that IIP, an autonomous body under the Ministry of Commerce and Industry, will organise a two-day conference on "Inno vision in packaging" here on March 23-24.
He said the objective of the conference was to update on the worldwide innovations in packaging and to discuss improving standards in packaging materials, technologies, techniques and packaging machines.
The two-day meet will be attended by over 300 delegates, including some from countries like the US, Britain, Germany and Switzerland.
IIP is planning to expand its operations. Three centres in Bengaluru, Guwahati and Kakinada in Andhra Pradesh will be fully functional in next one to two years.