Caption: RV Deshpande, Minister for Revenue & Skill Development, Government of Karnataka and Lt. Gen. JS Ahluwalia, PVSM (retd.), president, Institute Of Directors presented the award to Vikram Bhadauria at the IoD Golden Peacock's 21st World Congress on Environment Management and Climate Change and Awards ceremony in Bengaluru. ALOK shared this honor alongside reputed companies such as TATA Steel, Hyundai Motors, TATA Motors, JK Cement, Godrej Industries and GSK.

ALOK Masterbatches, India’s leading masterbatch producer, was conferred the coveted ‘Golden Peacock Eco-Innovation Award’ for UVNox Mulch. UVNox Mulch is an indigenously developed additive solution that has made a proven contribution to India’s agriculture economy by increasing the efficiency of agricultural practices by farmers using mulch films.

UvNox Mulch was developed at the state-of-the-art ALOK Technology Incubation Centre (ATIC), which is an innovation center and platform for co-creating solutions with customers for future needs of the industry. Due to its material durability, pesticide- and agrochemical-resistant properties, UvNox Mulch films are significantly more long-lasting in the field, in comparison with conventional mulch films.

According to the government’s Department of Agriculture Cooperation & Farmers Welfare, the use of plastic mulch films can save water usage up to 40-60% and reduce dependency on fertilizers by up to 20-25%. Aligned to the government’s flagship ‘Make in India’ and ‘Doubling Farmer’s Income by 2022’ initiatives, ALOK Masterbatches worked towards developing affordable and sustainable alternatives for the Indian mulch film industry, which was struggling to make durable and low-cost products for Indian farmers.

Speaking about the award, Vikram Bhadauria, managing director, ALOK said, “As we celebrate our 25-year journey this year, we are elated to receive this honor from the Institute of Directors. This award not only reaffirms our innovation excellence in the industry but also motivates us to further collaborate with our customers to make plastics safer, affordable and sustainable.”

The IoD Golden Peacock Award was instituted to recognize and celebrate visionary enterprises across industry segments and are regarded as a benchmark of Corporate Excellence worldwide. The process for determining the top awards and the list of top innovative companies involves a transparent and 3-tier evaluation process, based on internationally recognized criteria. ALOK was selected from over 350+ applications that were submitted this year.

Delhi-headquartered ALOK Masterbatches is India’s leading masterbatch producer, co-creating innovative, reliable and high-quality solutions for the plastics industry. It offers one of the largest additive masterbatch portfolios in the country, with more than 5000 MBs – including calcium carbonate, filler and color masterbatches.

With over 380 employees, a robust distribution network and world-class manufacturing plants, ALOK caters to both the domestic market as well as 30 export markets across the world. With six strategically positioned manufacturing facilities spread across the country, it has an installed capacity of 130,000 MT. The company has a JV in Paraguay – ‘Carmenta’ – providing solutions for construction, agriculture, packaging and other industrial solutions.

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As we present our 2024 publishing plan, India’s real GDP growth for the financial year ending 31 March 2024 will exceed 6%. The packaging industry growth will match the GDP growth in volume terms and surpass it by at least 3% in terms of nominal growth allowing for price inflation in energy, raw materials, consumables, and capital equipment.

The capacity for flexible film manufacturing in India increased by 45% over the past four years. With orders in place, we expect another 20% capacity addition in 2024 and 2025. Capacities in monocartons, corrugation, aseptic liquid packaging, and labels are growing similarly. As the consumption story returns over the next six months, we expect demand to return and exceed the growth trajectory of previous years. The numbers are positive for most of the economies in the region – and as shown by our analytics, our platform increasingly reaches and influences these.

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