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, states 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.