Packaging Industry Turnover To Reach $ 32 Billion

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 Packaging industryincreasing 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,” N C Saha, Director, Indian Institute of Packaging (IIP)  said at a recently conducted event.

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.