Uflex

India’s largest multinational flexible packaging materials and solution company Uflex has recently been certified by the Indian Banks’ Association (IBA) as a security printer for printing MICR instruments for its member banks. As a major flexible packaging printer and holographic film supplier,Uflex  has many innovative security systems in place for anti-counterfeiting and track & trace of print products. The company sees huge opportunity for producing secure documents and bank instruments both for the local and international markets.

To standardize documents related to bank cheques and the Ex-chequer’s Revenue Department, security printing for MICR instruments is mandatory. MICR, which stands for Magnetic Ink Character Recognition, is required in addition to special overt and covert features for bank cheques, legal tenders and various other negotiable documents. GP Pathak and Rakesh Khazanchi of the Holography Business unit at Uflex explained, “Since Uflex possesses all required systems, technology and infrastructure, the Indian Bank’s Association conferred this certification to us.”

Explaining the significance of the certification, Dinesh Jain, president, Legal and Corporate Affairs and the head of the Holography Business at Uflex said, “Now that we have been certified by IBA, a huge window of opportunity for security printing of MICR instruments both in India and overseas has opened up for Uflex. We will make the most of it.”

Expressing his delight, Ashok Chaturvedi, chairman and managing director of Uflex said, “We have been at the vanguard of the global fight against counterfeiting by offering top of the line brand protection solutions to our clients in the flexible packaging space, preventing them from being body-doubled. Acknowledging our capabilities in developing world-class anti-counterfeiting solutions for brands, academic qualification degrees and mark sheets, the IBA has given us the opportunity for security printing MICR instruments, which is a big honor and responsibility in itself. Through immaculate R&D, we remain committed to raise the bar of technology in the field of security printing and brand protection giving a tooth and nail fight to nefarious counterfeiters operating out of dingy corridors across the world. Our cutting-edge technology towards developing the most contemporary and impregnable brand protection solutions is a befitting reply to counterfeiters and a concrete step towards annihilating the dark underbelly of plagiarism and counterfeiting.”

Packaging South Asia — resilient, growing and impactful — daily, monthly — always responsive

The multi-channel B2B in print and digital 17-year-old platform matches the industry’s growth trajectory. The Indian, South Asian, Southeast Asian, and Middle East packaging industries are looking beyond the resilience of the past three years. They are resuming capacity expansion and diversification, with high technology and automation in new plants and projects.

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.

For responsible and sustainable packaging, with its attendant regulations and compliances, there is significant headroom to grow in India and the region. Our coverage includes the entire packaging supply chain – from concept to shelf and to waste collection, sorting, and recycling.

We target brand owners, product managers, raw material suppliers, packaging designers and converters, and recyclers. This is a large and complex canvas – the only thing that can work is your agile thinking and innovation together with our continuous learning and persistence.

The coming year looks to be an up year in this region, and this is the right time to plan your participation and marketing communication – in our rich and highly targeted business platform with human resources on the ground. Share your thoughts and plans to inspire and mobilize our editorial and advertising teams!

For editorial [email protected] — for advertisement [email protected] and for subscriptions [email protected]

– Naresh Khanna (25 October 2023)

Subscribe Now
unnamed 1

NEWSLETTER

Subscribe to our Newsletter

LEAVE A REPLY

Please enter your comment!
Please enter your name here