Indian packaging sector to reach $32bn by 2025
According to the Union Minister for State for Commerce and Industry E M Sudarsana Natchiappan, the g…According to the Union Minister for State for Commerce and Industry E M Sudarsana Natchiappan, the global turnover of packaging is about $550bn (£335bn).
“The annual growth rate of this sector is about 15 per cent per annum and it is expected that annual turnover of Indian packaging industry will touch $ 32 billion by 2025,” he said.
The UK packaging manufacturing industry has annual sales of £11bn.
India’s middle class population is expected to increase up to ten-fold by 2025 which will boost the consumption of packaging material.
To cater for this demand the country will need more packaging professionals.
The Indian Institute of Packaging (IIP), which works under the Ministry of Commerce and Industry, is planning to begin a four-year degree programme in packaging technology and management from 2015.
Natchiappan said packaging design in rural India is compelling as everything is ‘natural’
“India can become a technology transfer driven country by rejuvenating the use of agricultural by-products for packaging. India has the potential to be a world leader in packaging and innovation going forward,” he said.