While the Indian label industry is not used to the flattening of its growth curve which it is currently experiencing, there are several discernible trends. The first trend is the increased sophistication of both the presses and the finishing equipment being installed. Forinstance, just as Barcom’s third Mark Andy Performance Series P5 label press is being installed, it has also ordered a bi-directional Rotoflex for slitting rewinding and improved inspection for pharmaceutical labels.
Mark Andy Indian distributor FIG’s Gourav Roy says that there is generally upward movement in terms of technology in the presses being bought. At least three or four label converters owning Mark Andy 2200 presses are seriously looking at investing in the new P4 press launched at Labelexpo Brussels a couple of months ago because it makes economic sense to be able to use the tooling for their older presses on the higher technology P4. Roy says that interest in both the Performance P5 and P7 presses remains high although the actual installs may come in the next financial year from 1 April 2016 to 31 March 2017. Interest in more sophisticated finishing equipment such as the bi-directional Rotoflex is higher than ever before.
The impact, resilience, and growth of responsible packaging in a wide region are daily chronicled by Packaging South Asia.
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As we present our publishing plan for 2023, India’s real GDP growth for the financial year ending 31 March 2023 will reach 6.3%. Packaging industry growth has exceeded GDP growth even when allowing for inflation in the past three years.
The capacity for flexible film manufacturing in India increased by 33% over the past three years. With orders in place, we expect another 33% capacity addition from 2023 to 2025. Capacities in monocartons, corrugation, aseptic liquid packaging, and labels have grown similarly. The numbers are positive for most of the economies in the region – our platform increasingly reaches and influences these.
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