We have experienced a considerable amount of growth compared to the previous editions of PrintPack India. This indicates that the Indian market is constantly growing and it is quite visible as we can see a lot of new participants at the show.
We have visited various exhibitions across the world. So we have seen most of the technologies being showcased here. When you talk about the industry competing with the worldwide market, it requires a lot of improvement. But, a lot of new machines have been coming to India in the last five years which is a great sign of growth. Also, we are adapting to newer technologies which is again a positive sign for the industry.
The packaging segment has experienced major growth over the years, but, in the commercial printing side, there has been a standstill. So, a lot of innovations are required to boost up the commercial printing segment.
The Union Budget hasn’t had a direct impact on the print industry but indirectly, of course, it has made an impact on this industry, just like the other manufacturing segments, because the per capita income and buying power has grown.
So, definitely, the Union Budget is a huge push and we should appreciate it, because it is for the people, for the poor, and for the benefit of the MSME sector.
We feel that the service sector in India will grow much faster as compared to the manufacturing sector, as customers are focusing more on the factors such as on-time delivery and other such services.
Also, on the manufacturing side, competing with China is a bit difficult, so we will be more inclined towards the service segment. The services like travel and tourism, healthcare, and digitalisation will increase on a larger scale.