Mr. Gaurav Jalan, CEO & Director of India’s leading packaging company Packman Packaging, shares that India should expect strong growth of employment and revenue opportunity from the packaging industry by 2020. Mr Jalan says that at present the Indian packaging industry employs nearly 5 million people directly and another 15 million people indirectly and these figures should see a significant jump due to the industry growth.
Quoting on Assocham’s latest industrial report that forecasts Indian packaging industry size to touch USD 72.6 billion by 2020, Mr Jalan shares the reasons why the packaging industry is witnessing a 100% growth within a span of 5 years (in 2015 packaging industry was USD 31 billion).
Mr Jalan shares that a large percentage of packaging market growth is fueled by the rapidly growing pharmaceutical, organized retail and e-commerce industries. These industries are largely seeking the strength and durability of their packaging solutions to minimize the loss of goods while they are transported to the end-users. Also, these industries are gradually turning brand conscious and seeking high-quality printing solutions to print their logos and brand information on the packages.
Also, there is a rise in consumer expectations from brands to be more environmentally responsible and at the same time organization to are looking for cost-effective packaging solutions. This added to the growth of recyclable packaging solutions like corrugated boxes that can be recycled again and again, without any compromise in their strength, durability, and quality.
Similarly, there are additions of demand from new entrepreneurs, small and medium enterprise that are also contributing to the overall growth of the Indian packaging industry.
