Amit Khurana, CEO of Technova, shared key insights about the packaging and label industry’s rapid transformation at this year’s Labelexpo India. Speaking on the penultimate day of the event, Khurana highlighted the increasing adoption of digital technology and its potential to redefine the industry.
Khurana stressed the vital role of digital printing in addressing emerging market demands. “We have seen a rising number of digital machines installed by various suppliers in the narrow web segment this year, signaling the industry’s shift towards digital,” he said. “Digital printing’s versatility, technological superiority, and capacity to meet customization needs make it an indispensable part of modern packaging.”
While digital adoption was initially slow due to customer apprehensions, Khurana argues that it has evolved from being an aspiration to a necessity. “Over the past five years, businesses have transitioned from experimenting with digital to integrating it as a core component of their operations,” he said.
Market dynamics fuel growth
The Indian packaging industry is set to grow at an estimated 10–11% annually, outpacing GDP growth. According to Khurana, factors such as increased urbanization, rising middle-class incomes, and eCommerce are driving demand. “Global manufacturing is shifting towards India, making the country a critical hub for the next two decades,” he added.
Brands are also expanding their product lines, with startups and established businesses seeking smaller, tailored packaging solutions. Khurana pointed out that digital technology’s ability to deliver secure, engaging, and innovative printing solutions makes it ideal for such requirements.
Sustainability at the core
At Labelexpo, Technova showcased its comprehensive packaging solutions, underpinned by a commitment to sustainability. With an impressive presence across two stands, TechNova promoted a wide array of innovative solutions designed for the evolving needs of the packaging and labeling industry, reinforcing its position as a leader in the market.
At Stand E20, Hall 10, TechNova joined forces with HP with the highlight being live demonstrations of the HP Indigo 6K Digital Press. At Stand D26, Hall 09, TechNova displayed a range of flexographic solutions and state-of-the-art digital cutting tables.
“From flexo and offset to digital, we provide end-to-end solutions,” said Khurana. “Sustainability is central to our approach, with efforts focused on reducing carbon footprints and enhancing product circularity.”
Technova is venturing into greenfield projects, helping businesses new to packaging set up operations. The company is supporting enterprises in entering the packaging space by providing data and business models, he said.
Future outlook
Despite a cautious investment climate in the last 12 months due to factors such as parliamentary elections, Khurana is optimistic about the industry’s future. Government policies, including subsidies and industrial zones, are encouraging businesses to invest in advanced technologies. “The pace of investment is expected to accelerate as companies realize the risk of missing out on opportunities,” he said.
With India emerging as a global manufacturing leader, Khurana believes the label industry is poised for a decade of robust growth. “The combination of digital and conventional printing will drive the industry forward, creating exciting opportunities for innovation and expansion,” he concluded.
