Indian packaging industry forecast to rise

The Indian packaging industry is set to rise by 15% every year due to growing consumption and demand for packaged products across the country, according to the Indian Institute of Packaging in Hyderabad (IIP-H).

The $13.5bn industry is expected to reach $18bn by 2015, with the market for plastic packaging growing at 20%-25% annually.

AVPS Chakravarthi, IIP-H chairman, said the huge domestic consumption of packaging for products such as food, drink, vegetable and foodgrains, are the key driving segments.

The market in the Indian state of Andhra Pradesh alone contributes to around 8% of the country’s total packaging production.