‘e-comm offers huge scope for packaging industry’

Today’s era of e-commerce offers many opportunities for packaging industry, according Ajit Rangnekar, former dean of Indian School of Business (ISB).

He was speaking at the inaugural session of a seminar organised by Indian Institute of Packaging (IIP) to mark its Golden Jubilee here on Saturday.

Ability to adapt As demand for online purchases was growing, every single product had to be attractively packed and delivered; he said adding both quality and cost were important. Referring to the industry scenario, Rangnekar said all companies were undergoing a transitional phase. They were present in many nations facing global competition. “Your ability to adapt to those cultures, makes or breaks you in business,” he said.

IIP Director NC Saha said the institute had requested the Ministry of Commerce and Industry, to recognise it as an institution of national importance under the Act of Parliament.

Professional courses “We hope to get this recognition by the end of this year. If that comes, we will commence B.Tech and M.Tech in packaging technology and management by the academic year of 2017,” he said.

The Indian packaging industry is expected to become the fourth largest packaging market in the world, with revenues of $24.6 billion in 2016. Flexible plastic packaging was the fastest growing category in India, achieving a CAGR of 16.6 per cent.

However, there is great growth potential since India’s per capita consumption of packaging is only 4.3 kg whereas neighbouring Asian countries such as China and Taiwan show about 6 kg and 19 kg respectively, according to Saha.

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