'Packaging industry turnover to touch $32 bn by 2020'

The total turnover of India's packaging industry, which is growing at about 15 per cent, is expected to touch USD 32 billion by 2020 on increasing demand.
"Indian packaging industry is growing at the rate of 13-15 per cent annually. The total turnover of the industry is about USD 24.6 billion. It is expected that by 2020, the turnover will reach USD 32 billion," Director of the Indian Institute of Packaging (IIP) N C Saha told PTI.
He added however that the industry is facing challenges in dealing with the solid waste generated by the product.
"In India the major challenges is to tackle the packaging solid waste management in a proper manner. The consumption of packaging is growing which is leading to the accumulation of solid waste," Saha said.

He suggested that the government involve stakeholders, including NGOs, along with municipality to deal with the situation.
"It would be appropriate to formulate a policy by way of involving all the stakeholders and also fix responsibilities to tackle this challenge," he added.

The institute was set up in May 1966 by the Ministry of Commerce to improve the standards of packaging needed for the promotion of exports and also to help improve the domestic industry through research and development activities.
Saha said the institute is planning to commence degree courses, B.Tech and M.Tech in packaging technology and management. "It is expected that the courses will commence from the academic year 2016."

He added that the institute is expected to get the status of deemed university.
"Once, the institute gets the recognition as a deemed university, it will open up the opportunity for the youngsters to upgrade their academic qualification by way of pursuing B.Tech and M.Tech in packaging technology and management," Saha said.
The students will also have an option to take the research work to pursue the Ph.D in the field of packaging, he added.