Essentra, a leading international supplier of specialist plastic, fibre, foam and packaging products, recently enlightened its customers during âCustomer Connectâ event about its products and recent expansions, particularly in pharmaceutical, and health and personal care segments.
With the change in government and Â growth in healthcare sector, the Indian market has shown tremendous potential as a manufacturing market, with competitive input costs, low labour costs, etc. playing a key role in scaling business.
Essentra reiterated its sincereÂ interest towardsÂ the Indian market by highlighting the following key points:
India as a Market
- Emergence as a high-quality manufacturing base
- End-market of speciality components, such as healthcare and industrial products, with annual growth up to 20 per cent, compared to global 3 per cent
- Immense opportunity in both domestic sector and international export market
- Low-cost production
Underlining the importance of customersâ needs in the strategically important market of India, the Essentra management walked the customers throughÂ a slew of past and recent business measures undertaken to be physically near to their suppliers:
- Trading Â to Manufacturing: In 1994, Essentra entered the lucrative Indian market through a joint venture with ITC for manufacturing cigarette filters. Now, it has transitioned from serving the packaging market with its tear and tape portfolio to outright manufacturing.
- Purpose-Built Peenya Site: With the opening up of 70,000 sq. feet state-of-the-art site in Bengaluru (Bangalore), EssentraÂ can undertake manufacturing by accommodating warehousing, manufacturing and commercial infrastructure at one place.
- Kamsri Printing & Packaging Pvt Ltd: In January 2015,Â Essentra acquired pharmaceutical packaging assets from Kamsri Printing & Packaging Pvt Ltd, which has enabled the transfer of the relevant equipment and also installed a second carton manufacturing line.
Future Goals in India
- Integration of international best practices and learning from international business in North America and Europe
- Unique carton designs that fulfill compliance and tamper verification requirements
- Share trends related to packaging