Indian Printing Packaging and Allied Machinery Manufacturers' Association-IPAMA and the Sharjah Chamber of Commerce and Industry are quite upbeat about the growth of Indian printing and packaging industry describing it as “world’s fastest growing market.”
The IPAMA which is celebrating its silver jubilee and held a function at the historic city of Amritsar on August 24 observed that “printing and packaging industry is on a fast growth trajectory globally. India is the World’s fastest growing market with a 73% growth from 2006-2011, at the rate of 12-15% per annum”. The industry’s forecast is that it will grow to USD 20.9 billion in a year’s time and be in the top 10 markets of the world.
Mohamed Salim Al Musharrekh, Board Member, Sharjah Chamber of Commerce and Industry inaugurated the silver jubilee celebrations which saw large presence of delegates, entrepreneurs, bureaucrats from India as well overseas.
Addressing media, K. S. Khurana, President IPAMA said, “25 years ago a seed was sown in the form of IPAMA, today represents over USD 12.1 billion, Indian Printing Industry which is also India’s 12th largest manufacturing industry in terms of output and also a major contributor to country’s economy”
Also Present Mohamed Salim Al Musharrekh, Board Member, Sharjah Chamber of Commerce and Industry said, “We are truly honoured to collaborate with Ipama. I am sure the tie up with IPAMA will help Sharjah take centre stage in the fast growing printing and packaging industry in the Middle East region at the same time, I believe the partnership will open up better opportunities for Indian firms in the UAE and the rest of the region.”
“Print pack Arabia will play a significant role in highlighting new technology the regional printing companies will have to acquire to achieve the quality and speed required in a sector that seeks quick turnarounds. With Ipama we are further cementing our links with India and our centuries old cultural, religious and economic relations”.
As per the statistics available 80% of the UAE’s Printing and Packaging Industry is based in Sharjah and Ajman. UAE has emerged as the centre of Paper & Printing industry in the Arab World. This will be a new window for Indian manufacturer to explore their business at Gulf Countries, especially at Sharjah.
The existing USD 5 billion Printing & publishing sector in UAE estimated to touch USD 7 billion by 2015. Print Arabia will be a key platform to fuel this growth. The