Despite a large and growing market, India's share in the global packaging space is rather small and the industry must innovate and adopt and adapt to new technologies to be able to grow and realise its full potential, noted scientist R.A. Mashelkar said on Friday.
"The Indian packaging industry has less than 5 percent share in the $550 billion market," said the scientist at an event here to kick-start the year-long golden jubilee celebrations of the Indian Institute of Packaging, an autonomous body of the Ministry of Commerce and Industry.
"The 'I' in India has to be innovation and not imitation, not inhibition. There is an enormous potential for growth. Intelligent packing, active packing, functional diagnostic packing - they're all going to be the future," said Mashelkar, also the chair of Swach Bharat Abhiyan.
Speaking at the event hosted by N.C. Saha, the director of the institute, Maharashtra Governor Vidyasagar Rao said even as the chancellor of 20 universities that were imparting education to over three million students, there was little awareness about the Indian Institute of Packaging.
"To my knowledge, very few students are aware of the career opportunities in packaging. I would urge the Indian Institute of Packaging to work closely with traditional universities and create awareness," he said while also launching the instiute's new logo designed by NID.
The occasion also saw a congratulatory message from Commerce Minister Nirmala Sitharaman, who said a strong packaging industry has been of immense help to India's overall exports in the past several years.
"Appreciations are fairly due to the institute for completing 50 fruitful years of service."
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According to the institute, the $24.6 billion Indian packaging market market, which is growing at is about 13-15 percent, has a great potential, since the country's per capita consumption of packaging is just 4.3 kg, compared with 6 kg for China and 19 kg for Taiwan.
The institute started with one centre in Mumbai since its inception in 1966 and has now expanded to Delhi, Kolkata, Hyderabad, Chennai and Bangalore. The process is on for similar campuses in Guwahati and Vijaywada.
The event on Friday also saw the inauguration of an exclusive Technology Innovation Centre by Commerce Ministry Additional Secretary Rajani Ranjan Rashmi. It will be develop some innovative technologies and determine what material is best suited for which industry.