Business Daily from THE HINDU group of publications
Sunday, Jun 28, 2009
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Business Daily from THE HINDU group of publications Sunday, Jun 28, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Industry & Economy
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Packaging Web Extras - Outlook Packaging sector may gain on Govt PDS plans T. Murrali Chennai, June 27 The packaging industry is set to double its growth in the next three to five years since the Government is considering distribution of pre-packed commodities such as rice and sugar. Currently, they are retailed at the various public distribution system shops in non-packed form. The current market size of the packaging industry is pu at Rs 40,000 crore and has been growing at 12 per cent CAGR the last five years. Mr P. V. Narayanan, Secretary-General, Institute of Packaging Machinery Manufacturers of India, told Business Line at the sidelines of Compack 09, the packaging expo organised by Smart Expos, that only edible oil sold through the PDS is in packaged form, while most of the items sold by organised and unorganised retail stores are not. Therefore, the scope is huge for the packaging industry. Even otherwise the growth of packaging industry is largely driven by consumer preference, increased quantity of processed agriculture and horticulture produce, increasing volume of value-added packages for exports and private labelling. Besides, the predominant youth population of the country drives the demand for packaged products.
Currently exports of packaging material account for 3 per cent of the total production and this is also set to increase. With stringent environmental regulations several European countries have evinced interest in sourcing packaging materials from some Asian countries and India will stand to gain. More Stories on : Packaging | Outlook
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