ওয়াশিংটন বাংলা রেডিও Washington Bangla Radio USA

Mumbai, Oct 16 (IBNS) A large number of domestic companies are opting for eco-friendly packaging with many consumers shifting to sustainable and green packaging amid rising environmental concerns, according to a recent study by apex industry body ASSOCHAM.

The sustainable packaging sector is growing at a faster pace of about 25 per cent per year compared to the overall packaging industry which is growing at about 20 per cent annually, according to a study on Domestic Green Packaging Industry prepared by The Associated Chambers of Commerce and Industry of India (ASSOCHAM).

“Flexible packaging market in India is currently worth about Rs 14,000 crore and likely to reach Rs 22,950 crore by 2015,” said D.S. Rawat, secretary general of ASSOCHAM while releasing the findings of the study.

“Packaging adds to the product value and preserves its quality be it food or non-food articles, electronic goods, machinery and plenty of other products,” said Rawat.

Consumer behaviour has a huge impact on the packaging industry as consumers today focus on greater value for money in their purchases, companies are laying more emphasis on green packaging.

ASSOCHAM interacted with about 1,000 representatives including the chairmen, managing directors, CEOs and Directors of food and beverage companies, consumer packaged goods, shopkeepers, wholesalers and retailers in Delhi, Mumbai, Chennai, Kolkata and Bangalore (200 in each city) to ascertain the impact and advantages of sustainable packaging on highly fragmented Indian packaging industry.

Nearly 45 per cent of manufacturers said they are increasingly adopting renewable packaging technologies, environmentally friendly light materials and cost effective methods that lead to reduced fuel and water consumption, decreased costs and increased consumer awareness which in turn leads to increased sales.

Rising environmental concerns about carbon emissions, dearth of natural resources together with increased health awareness and waste reduction targets are certain key growth drivers of green packaging innovations in India, highlights the ASSOCHAM survey.

About 75 per cent of respondents said they are gradually reducing usage of non-decomposable plastic bags and seeking support of local grocery stores, vegetable and fruit vendors, hawkers to promote usage of paper bags.

According to ASSOCHAM, about half of total demand for paper is consumed by the packaging industry.

Over half of the respondents said they have started using bio-degradable materials like sugarcane and bioplastics, and laying emphasis on upgraded packaging material for all products.

About 30 per cent of respondents said that they are working towards developing newer technologies based on the properties of plastic for increased revenue growth as its a significant constituent for packaging.

Growing middle class with increased purchasing power, liberalisation, globalisation and an organised retail sector are growth catalysts of Indian packaging industry, points out the ASSOCHAM study.

ASSOCHAM lauds the recent eco-friendly move of Delhi government to impose a blanket ban on usage and manufacturing of plastic bags with stringent action against the violators and demands imposition of the ban across the country to inculcate eco-friendly practice among Indian consumers.