Sribash Dasmohapatra of Plexconcil looks at 2024
Sribash Dasmohapatra, executive director, Plexconcil sheds light on projections and initiatives expected to shape the Indian packaging industry in 2024, which is poised for significant growth, particularly in the realms of plastic packaging
05 Jan 2024 | By Aditya Ghosalkar
Dasmohapatra: Now, there is growing synergy between processors, brand owners and recyclers
The growth and projections in the Indian packaging market
The benefits of plastic packaging are limitless considering the diverse applications, adaptability, durability, and protective qualities of countless packaging solutions.
Dasmohapatra pointed out that the Indian contingent at the concluded ArabPlast 2023 in Dubai captured a share of USD 1.7-billion from a total of USD 38-billion plastics import in 2022. It highlights the immense growth potential for Indian plastics in the region.
Examining all types of plastic packaging including films and sheets, India's exports for the segment are about USD 3.5-billion each year. However, this constitutes only around two percent of the global export market.
Describing the plastics industry as one of the robust growing sectors, Union Minister of State for Commerce, Anupriya Patel said that India has emerged as a major hub for the world to source their requirements
Nevertheless, packaging stands as one of India’s significant export sectors, with rigid and flexible packaging, including films and sheets, being central to the industry. As this dynamic and influential segment continues to expand, there are also substantial efforts being undertaken to promote sustainability.
Government initiatives, EPR regulations and policies
Given our industry’s technological advancements in manufacturing, there is now growing synergy between processors, brand owners and recyclers from the design stage to the end of the life cycle. This ensures monitoring of the manufactured products in conformance to environmental sustainability.
The new extended producer responsibility (EPR) guidelines and the National Packaging Initiative have helped promote greater investments in materials, products and processes to meet ESG goals.
Your outlook for the packaging industry for 2024
The increasing demand in eCommerce, food packaging, pharmaceuticals, and consumer products for both flexible and rigid plastics indicates a rising trend towards the adoption of biodegradable alternatives, recyclable and recycled content, and innovative materials. This shift is expected to gain momentum in the upcoming years.
WhatPackaging? readers can recall that Plexconcil will orgnise the second edition of Plexconnect from 7 to 9 June 2024 at the Bombay Exhibition Centre (BEC). The show is expected to garner 25,000 trade visitors, 900 international buyers from over 100 countries.