Know more about the packaging sector in India

Know the packaging machinery equipment
Packaging is important in any industry and the machinery for packaging are now made with advanced technology and standards that are foolproof and attractive as well. All the industries have realized the importance of packaging and the kind of packaging they need. India is a good place for packaging machinery companies as it has plenty of manufacturing and production sectors and so even the foreign players have entered the sector. Food processing, agro-products, pharmaceuticals, etc are the biggest drivers for packaging and are growing. With the growth in the retail market, the packing becomes essential. The government is on the way to permit even the FDI in the multi brand retail. Various reasons are responsible for the retail market that is said to be the biggest boom for the packaging sector. The rising health concerns, the rising income, the spending trend of the youth are all factors that are associated with the increase in the retail sector. Good Packaging has become a part of good marketing in the retail sector.
Government reforms and schemes
The current value of the packaging machinery of the world is today $ 30.9 billion. India’s food packaging equipment is of around $ 80 million. Today, there are almost 700 packaging machinery manufacturers, of which 95 % are from the small and medium sector. There is more scope for growth here due to the increase in industries and products. There has been standardization of the excise duties which is a plus point. Even the excise duty is reduced to 16 % from 24 %. The industry is today a focal point for industries and there are many investors who are ready to invest in this field due to the potential that is found here. The demand for modern machinery is apparent and more focus is seen here.
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