Page 2 - Packaging Sector

SIG to invest 100 mn euro on Gujarat plant, expects to be in top 10 markets

Leading packaging solutions provider SIG expects India to be among the top ten markets globally and will invest around 100 million Euro (Rs 878.8 crore) to set up its first plant here, its CEO Samuel Sigrist said on Wednesday. The company, which entered into the Indian market in 2018, has witnessed a "phenomenal growth" here, and expects it to "play a very important role for us going forward", he added. It is quite encouraged by the growth of the beverage industry in India, coupled with factors like the growing economy, income of the people and packed food consumption, he said. When asked whether India would figure in its top 10 markets in mid-terms (around 5 years) Sigrist said: "Easily. Our five-year CAGR for the packaged dairy business is in kind of the high teens, around 15-17 per cent". "We normally outgrow the market. We are the new entrant and the growth opportunity here is amazing. India will, over time, become a very, very sizable market price set. We are super excited,"

Jute mills foresee 30-50% production cuts on back of low procurement plan

The jute industry is concerned over a threat of a 30-50 per cent production cut in three months till November, compared to the same period last year, because of a low demand for packaging material for foodgrains from various states, a senior official said on Tuesday. The Indian Jute Mills Association (IJMA) has appealed to the Centre for a revision in the sixth (revised) supply plan issued by the Food & Public Distribution department. Foodgrain producers have to use jute as a packaging material to a certain extent. "In the current jute season from September to November 2023, the actual demand indent placement is lower by 30-40 per cent. In September alone, demand indents are expected to be lower than 2.5 lakh bales against planned 3.21 lakh bales due to slow order placing by Maharashtra," IJMA Chairman Raghav Gupta told PTI. For the months of October and November, the indents are likely to be about 1.48 lakh bales against over 2 lakh bales as per the August plans, he stated. "But,

Rising demand to help Indian F&B packaging industry to reach $86 bn by 2029

The Indian food and beverage packaging industry that is growing by 14.8 per cent annually is expected to reach USD 86 billion in 2029, following rapid urbanisation, rising disposable incomes and evolving consumption patterns, All India Food Processors Association said on Saturday. "Post-Covid-19, the demand for natural food ingredients has surged. FSSAI's new regulations for nutraceuticals and organic foods are driving growth in the sector. Packaging has evolved from protection to marketing and sustainability. Trends like natural, organic, vegan, and GI-tagged products are reshaping the landscape," All India Food Processors Association, Western Region, chairman Prabodh Halde said in a statement on the last day of the Food Ingredients (Fi India) and ProPak India. The organised packaged ingredients market is valued at about Rs 20,000 crore annually, indicating a shift from loose to packaged products, he stated at the 17th edition of Food Ingredients (Fi India) and the 5th edition of ..

Bikano eyes Rs 200-crore sales through export market, expects 40% growth

Bikano has curated its product lineup by offering numerous nutritious and delectable options that are free from preservatives

Govt mulls changes to MSME prepackaged scheme, more teeth for IBBI

Experts feel that the current voting limit of 66 per cent for initiating the prepack process is a very rigid condition, which has been a deterrent for MSMEs

Packaging industry growing at 17%, can bring district level jobs: Experts

The packaging industry is growing at 15-17 per cent and the sector has the potential to create employment opportunities in the country, industry experts said. The experts also called for the promotion of domestic players and setting up the packaging industry in every district on the lines of the one district one product' initiative to create jobs at the local level. "Presently, the demand for packaging of all things has increased a lot and there is a lot of scope for employment in this sector," Prof Tanveer Alam, Director of the Indian Institute of Packaging (IIP) Delhi, said at the Asian Packaging Congress here on Saturday. The event was organised by the Indian Institute of Packaging (IIP), an autonomous body under the Union Ministry of Commerce and Industry, a release said. The packaging business in the world is worth USD 79 billion and has a growth rate of 15-17 per cent, Alam said. Industry experts opined that to boost the industry, packaging units should be set up in every ..

Swiss packaging solutions provider SIG to invest 60 mn for Ahmedabad plant

Switzerland-based leading packaging solutions provider SIG on Tuesday said it would invest 60 million Euro (approx Rs 525.98 crore) in the next two years to set up its first aseptic carton plant at Ahmedabad, in Gujarat. "SIG will construct its first aseptic carton plant in India, the world's largest milk market, and one of the largest juices-producing countries globally," the company said in a statement. An aseptic carton is a multilayered packaging solution made after combining layers of paperboard, plastic and aluminium and is used for the packing of liquid foods and drinks. Companies such as Tetra and UFlex also operate in the space. Construction of the plant, which will serve leading dairy and non-carbonated soft drink players, will commence in the first quarter of 2023, and the start of commercial production is expected towards the end of 2024. Phase one of construction is expected to create around 300 jobs, it added. "SIG will invest approximately 60 million over the perio

I-T depatment searches packaging major Uflex premises across country

The Income Tax Department on Tuesday conducted searches at multiple premises linked to packaging major Uflex as part of an alleged tax evasion investigation against the company, officials said. Around 60-70 premises, including the company offices and linked premises in Delhi, Noida (Uttar Pradesh), Jammu and Kashmir, Gujarat, West Bengal, Tamil Nadu, Karnataka, are being covered, they said. No immediate reaction from the company on PTI's queries was available. According to the company's information available on its e-portal, it is "India's largest flexible packaging materials and solutions company and a leading global polymer sciences corporation.

EU proposes new rules to reduce wasteful packaging, aims at 15% reduction

Another key target is to make packaging fully recyclable by 2030, the EU executive said

Smart fasteners are not just nuts and bolts

In auto sector adhesive tapes used for attaching components in unique ways allow carmakers to experiment with designs, since they are no longer bound by linear needs of traditional metallic fasteners

TCPL Packaging soars 16%, hits record high on healthy business outlook

In Q2FY23, the company's consolidated revenues grew by 43 per cent YoY to Rs 361.7 crore on the back of higher volumes and better realizations

FSSAI rules: Here is what packaged food and restaurant menus must mention

The government on November 17, 2020, notified the norms under the Food Safety And Standards (Labelling and Display) Regulations, 2020, for producers, retailers, and servers

Stock of this smallcap packaging company has zoomed 130% so far in 2022

TCPL is well positioned to cater to the growing demand for sustainable packaging solutions from leading brands and continues to support efforts towards facilitating a waste-free world.

Amazon expands partnership with Railways for deliveries in festive season

National transporter enables company to meet delivery promises to customers in the hinterlands

Edible oil makers asked to remove packaging temperature from the labels

SEA executive director BV Mehta said that several oil companies in India have been resorting to the unfair practice of packing the oil at a higher temperature to reduce the weight

IG International, Esquire Corrugation form JV for fresh produce packaging

The JV, Esquire IG, targets to manufacture 500-1,000 tonnes of fresh produce packaging both for the domestic as well as global markets, IG International said in a statement

Brookfield pumps in Rs 2k cr into Jindal Poly Films' packaging films unit

The proposed investment, which values the hived off entity at Rs 8,000 crore, will be carried out through Brookfield's Special Investments programme and with its institutional partners

E-commerce, pharma sector to revive demand for packaging paper: CRISIL

A strong revival in consumer spending amid waning impact of the Covid-19 pandemic will help the paper packaging industry bounce back with a revenue growth of 15% this fiscal

Jute industry lauds govt for retaining reservation norms in packaging

The jute fraternity on Wednesday applauded the government's move

Paper stocks see strong investor interest as biz cycle turns favourable

Improving demand and likely consolidation in the industry are key triggers