In the midst of ongoing war footing in the scene of development, Andhra Pradesh continues to see new avenues. After the Centre has extended an active hand towards the development of fisheries and aqua culture in the state, it is now turn for another milestone. Establishment of Indian Institute of Packaging (IIP) and Industrial Park.
AP Government has now allotted 100.42 acres of land in Parawada, Anakapalle and Munagapaka areas of Visakhapatnam towards setting up of IIP and a fully functional Packaging Park. This development will be overseen by Andhra Pradesh Industrial Infrastructure Corporation (APIIC).
Nearly 10 acres of this land will be utilized for setting up of Indian Institute of Packaging while the rest of the land will be deployed for the rise of the Packaging Park. The inception of this park is highly beneficial for promoting marine foods, pharma and retail sectors.
Indian Packaging Industry has the second largest GDP among all the emerging economies. This has been determined based on the purchasing power parity (PPP). While India is the fourth largest economy, the packaging segment is now one of the fastest growing industries. There is a great opportunity in this area as India’s current per capita consumption into packaging is only 4.3 kgs, whereas other competing Asian counterparts like China and Taiwan have the same at 6 kgs and 19 kgs. A direct indication that more commodities need to be marketed in a packaged condition, and hence, the ever increasing demand. The presence of packaging in Andhra will throw open gates for development as well as expansion.
The retail market in India is growing leaps and bounds, and the emergence of packaging plant in Vizag will attract a million dollar market that is expected to reach a magic number of 1.3 trillion dollars by 2015.
The establishment of IIP has a twofold effect in the new state. While the Institute offers premier courses into a niche area like that of packaging to aspiring students and in service professionals, it would also cater to all the industries that are located in and around the demographic, churning out packaging experts. There is a huge demand for packaging professionals in the country, with the ongoing massive expansion of retail and eCommerce industry.
Similarly, the revenue potential of the Indian packaging Industry is humongous and directly impacts the dynamics of the state. The estimate is currently said to be close to 25 billion dollars and the numbers are only predicted to go up in the next 10 years.
The Indian Institute of Packaging (IIP) is headquartered at Mumbai and has branches in Chennai Kolkata, Hyderabad, Delhi, Bengaluru and Guwahati. The industries that are located in Vizag intake the packaging material from Mumbai, Hyderabad, Kolkata, Japan and Sri Lanka. The induction of Packaging Park works well for the uplifting the employment activity within the state. Furthermore, it also trains and retains talent for the demand and supply chain in the Packaging industry, operating in a standalone mode from the jurisdiction of AP.
This development is inevitably a welcome sign for the growing state like Andhra, where efforts are being made to bring in the investments in various fields and sectors. After fisheries, power and technology, packaging industry will see a great base coming from the state with the foundation of IIP and Packaging Park.