Tappan Patel, managing director of BST eltromat shared, “Be it web guide or video inspection, as far as the label industry is concerned, 80–85% of the label presses worldwide uses only BST products. In India, BST has more than 90% market share.”
According to Patel, for the last 8 to 10 years, the Indian label industry is growing at 12–15% per annum, and this growth will continue because everything is now going to get packed. However, he said, price cutting is a big challenge in the Indian market. Patel suggested the fraternity of Indian label converters to come together and come up with a strategic plan to bring in healthy competitions among themselves and grow amicably. “The Indian label converters should get a better price as they are investing a lot in new technologies,” said Patel.