Pre-Budget Quote on Manufacturing Sector by Jay Deepak Shah, CEO & MD, Jay Wood Industry
Below the Pre-Budget Quote on Manufacturing by Jay Deepak Shah, CEO & MD, Jay Wood Industry
"As we approach Budget 2025, the SME sector in manufacturing and packaging, holds high expectations for transformative growth. The Indian green packaging market is projected to grow at a CAGR of 6.52% from 2024 to 2032 - demonstrating the significant potential for growth in sustainable packaging.With increasing industrial activity, urbanization, and a rising demand for sustainable packaging, SMEs are well-positioned to enhance India's global competitiveness. Government initiatives like ‘Atmanirbhar Bharat’ and ‘Make in India’ are fostering innovation and strengthening the backbone of the economy - small and medium enterprises. Sustainability will continue to be a central focus, with measures such as Extended Producer Responsibility (EPR) and initiatives to reduce plastic waste paving the way for biodegradable and recyclable packaging solutions. By 2025, we expect to see stronger support for eco-friendly practices, accelerating the transition to a circular economy and promoting green manufacturing.
At M/s Jay Wood Industry (JWI), we are committed to driving this transformation. Our dedication to manufacturing sustainable wooden pallets using responsibly sourced materials and energy-efficient processes underscores the vital role SMEs play in advancing green innovation. We hope that Budget 2025 will introduce incentives for sustainable practices, strengthen SME-friendly policies, and encourage investment in green technologies, further empowering the sector. We are optimistic about the future and ready to lead the shift towards sustainable growth, championing a united movement for a greener and more sustainable future in the industry."
Above views are of the author and not of the website kindly read disclaimer
