Learn about the companies from the Packaging machinery, equipment and services Sector in India
The annual growth rate of the Indian packaging industry is 14 to 15 % and the rate is expected to double over the next year.
The growth in the packaging industry in India is mainly driven by the food and the pharmaceutical packaging sectors. The large and growing Indian middle class, along with the growth in organised retailing in the country are fuelling growth in the packaging industry. The rapid growth of exports has provided fuel to the growth of the packaging industry. The export products require superior packaging standards. With this the need for adopting better packaging methods, materials and machinery to ensure quality has become very important for Indian businesses.
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 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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