India got 63 FDI applications for retail foray

In their basket of offerings, 60% will be consumer and perishable food items

Ever since FDI in retail was approved, India has so far received 63 applications from single and multi-brand retailers from around the world. In their basket of offerings, 60 per cent will be consumer and perishable food items, Union Cabinet Minister of Commerce, Industry and Textiles, Anand Sharma said in Bangalore on Friday.

Laying the foundation stories of Indian Institute of Packaging at Sompura Industrial Area, Dobaspet, Nelamangala, around 30 kms from Bangalore, he said that packaging will play a major role as India gears up for this inflow of retailing companies from across the world.

“Packaging today contributed 5.3 per cent of the GDP,” he further added “this industry vertical is growing at 15 per cent, the second fastest in world. We expect it to double to 30 per cent within a decade. Our research in secondary and tertiary packaging is even recognised by European Union, and we reached the milestone much ahead of them, thanks to work happening at professional institutes like IIP, IIT and NID.”

According to him, IIP, and all its branches will turn out to be a model global institute in research and training besides helping us keep pace with a growing economy. The Indian Institute of Packaging is an autonomous body under the Ministry of Commerce & Industry, Govt of India.

IIP presently has centres in Mumbai, Chennai, Delhi, Hyderabad and Kolkata. Bangalore will be their sixth centre. N C Saha, Director, Indian Institute of Packaging, expressed the institute’s keenness to bring a whole new offering to the students of Bangalore.

The Indian Institute of Packaging presently offers two-year PG diploma in packaging, 18 months distance education in packaging, three months intensive training course in packaging and also offers short-term residential courses available as government facilitated exchange programs with Africa, Sri Lanka among others.