The
India Story
INDIA,
one of the top ten economies in the world has the second largest GDP among
emerging economies based on Purchasing Power Parity (PPP). Country is the 4th
largest economy in the world by PPP basis and the sheer size of economy has
opened up new business opportunities to the world in all walks of business in
general and packaging industry in particular. Packaging industry in India
is one of the fast growing industries which has its influence on all industries
directly or indirectly.
· The
Indian packaging industry is currently US$ 18.8 billion approx with a growth
rate of about 15% per annum. Growth rate is expected to be doubled with in next
two years.
· India's
per capita packaging consumption is less than worldwide average which offers
mammoth business opportunity to Indian Packaging Industry.
· The
large and fast growing Indian middle class population and the growth of
organised retail sector are the catalysts to growth in packaging. The Indian
middle class population is above 50 million and is expected to reach 583
million by 2025.
· The
Indian retail market is the 5th largest retail destination globally and has
been ranked the second most attractive emerging market for investments. This
market is currently valued at US$ 511 billion and is expected to rise to US$
1.3 trillion by 2018.
· Packaging
of essential products like food, beverage, milk, vegetable, food grains and
pharma are the key driving segments because of the huge domestic consumption.
· Indian
packaging machinery market was valued at US$ 300 million in the year 2000. The
annual growth rate for the indigenous packaging machinery is maintained at as
11.8%, indicating that large section of the Industry still dependent on
Indigenous equipment.