The Indian label industry continues to be one of the fastest growing industries globally, with a compound annual growth rate of around 15%. This achievement, in the face of a global downturn, is something to be proud of. But at the same time the onus lies on each one of us to ensure that the positive trend continues in the times to come.

 

I will take this opportunity to discuss certain issues faced by the label printers in the current business scenario.

 

To begin with, I feel that we, as printers, should focus on expanding the business through new ideas and innovations rather than trying to target each other’s existing clientele with cut-throat price competition.

 

In India, if we look closely, there is still a lot of scope for label converters to grow their businesses, what with wet glue labels fast making its way for pressure sensitive and flexible film labels. Also, industries which were previously not using self-adhesive labels have now started to adopt them.

 

One needs to tap these new opportunities to grow the business.

 

Mobility of trained workforce comes second on the list of issues for the printers, especially in North India. We invest heavily in training our work force and it is imperative for us to retain them. Thus, we should promote loyalty among our work force and at the same time refrain from hiring people from other converters’ team without conducting any background checks and due diligence.

 

Third. I feel we should have a common minimum pricing for our labels. I know it’s difficult, considering the different costing methodologies that we follow. But coming up with a solution to this is a preessential, so as to provide a level playing field to all converters. And thus, quality, service, and goodwill stand as the only differentiating factors for the customers to choose from.

 

Fourth. Waste management is a matter of rising concern. We all need to look into ways of reducing wastage and devising efficient and economical ways of waste disposal.

 

Finally, I have observed that in Northern India the printers do not associate as much as they should be. Increased communication and discussing common problems can prove beneficial not only for one company alone but will also contribute to the growth of the industry as a whole.

 

This technical workshop was indeed a great initiative towards enhancing our knowledge and giving an opportunity to meet fellow printers and business associates, all on one platform.