Bhupinder Singh: Innovation and sustainability to define packaging

Disha Chakraborty (DC): What are the growth projections for the Indian packaging market?
Bhupinder Singh (BS): The Indian packaging industry has surged over the past decade, not just technology and innovations within its design and manufacturing, but also robust value creation across its applications like pharma, food, and FMCG. With the remarkable growth of packaging consumption over the past ten years, the industry demonstrates its immense potential to drive innovations for the next decade of socio-economic changes. 

DC: What are the key drivers influencing this growth trajectory of the Indian packaging market?
BS: Compared to developed nations, India has significant headroom for further expansion. This untapped potential positions the Indian packaging industry for substantial growth backed by increasing urbanisation, rising disposable incomes, and evolving consumption patterns. As India's premier packaging and processing technology trade fair, PackMach Asia Expo serves as a key meeting place for ideas and partnerships. It brings together leaders from the Indian and global industry to showcase technologies, solutions, and trends, paving the way for future success.

DC: What are some of the government initiatives for the packaging industry?
BS: The packaging sector's reach across diverse industries fuels its growth potential. As interconnected sectors flourish in the next decade, the packaging industry is poised for new heights. Recognising this dynamic, the government of India has introduced many impactful policies such as the single-use plastic ban policy, production-linked incentive (PLI) for food packaging, and the National Packaging Initiative, all aimed at driving innovations at scale. By boosting efficiency and competitiveness, the government envisions a thriving packaging sector that prioritises sustainability and environmental responsibility. PackMach Asia Expo offers a unique platform to delve deeper into these policy initiatives.

DC: How can companies leverage EPR regulations to achieve a competitive edge?
BS: Companies that adopt and integrate EPR regulations position themselves not only for regulatory compliance but also for heightened efficiency, minimised risks, and a competitive advantage in the continually evolving marketplace. EPR is an opportunity to innovate with sustainable materials, streamline processes, and minimise environmental impact. Therefore, PackMach Asia Expo emerges as a crucial platform for businesses to exchange ideas and forge networks for stronger EPR implementation. 

DC: What is the packaging industry outlook in 2024?
BS: Innovations that promote efficiency and technologies for sustainability will define packaging in 2024. With consumers’ changing behaviour and standards, the packaging industry is responding with technologies that drive cost and process efficiency while also creating products that meet the demands of circularity. Therefore, we are witnessing the rise of material science and research on eco-friendly packaging solutions in India. 

DC: Do budding startups hold the potential to solve problems in the packaging sector?
BS: Sustainability has become a key focus area of many of the packaging solutions manufacturers. There is a steady rise of startups focusing on different problems across the supply chain of packaging materials to ensure sustainable and environment-friendly growth of this industry in the coming years. As the demand for sustainable packaging is increasing in India, platforms like PackMach Asia Expo are the perfect marketplaces to explore the latest and most innovative raw materials and technologies.