TCPL Packaging expands to Chennai amid bold bet on India’s export potential

"Many people have asked me why we are setting up another unit in Chennai, especially given that the FMCG market is experiencing a slowdown," Akshay said. "The obvious answer is that we already have units across India, and this new addition allows us to reach customers where they are. Regardless of whether a customer has one unit, ten units, or twenty units, we can service them throughout the country,” he said, highlighting the company’s pan-India network. “India’s best days are ahead, particularly in exports. The numbers speak for themselves.”

Citing India's economic position, he pointed out the vast opportunities in sectors like toys, electronics, and footwear, where the country lags behind competitors such as China and Vietnam. "For instance, India’s annual toy exports amount to only USD 200 million, compared to Vietnam’s USD 4 billion and China’s USD 85 billion. This highlights the considerable gap and opportunity that exists for India in this sector."

Akshay elaborated on India's position in other industries, drawing comparisons highlighting the country's untapped potential. "India exports USD 25-billion worth of electronics products annually, whereas Vietnam exported USD 140-billion last year, and China exports around USD 900-billion in electronics. Looking at ready-made garments, India exports USD 15-billion each year, while Vietnam exports USD 35-billion and Bangladesh exports between USD 30-billion and USD 40-billion. China leads in this category with USD 115-billion in exports.

"Similarly, in the footwear industry, India exports USD 2.5-billion worth of shoes annually, whereas Vietnam's exports in this sector are USD 25-billion, and China's is USD 50-billion. For reference, Vietnam has a population of about 100-million, which is less than the population of Maharashtra in West India, which stands at approximately 250-million."

He stressed that southern India is the current preferred investment destination. This region is experiencing rapid growth, and missing out on these opportunities would be a significant setback. Acknowledging the challenges in infrastructure and market competition, we must remember that just 200 years ago, India was dominant in various industries worldwide. We have the potential to reclaim that position in the global market."

Saket Kanoria, managing director at TCPL, reflected on the company's journey, tracing its origins back to 1989 when the family shifted from textiles to packaging. "Since our inception, TCPL has been on a remarkable journey," Saket said. "We started operations in 1990 after being approached by Godfrey Phillips, who were looking for a packaging supplier. Despite initial challenges, we persevered, and our first invoice was actually issued to Unilever."

Over the decades, TCPL has forged strong relationships with major clients, including ITC, which has played a key role in its growth. "TCPL is India's largest exporter of paperboard and cartons. If you combine the total exports of the next five competitors, we would still stand out as the biggest exporter," Saket stated.

Recounting an episode from 2015 when a crucial piece of machinery was damaged during the setup of TCPL’s Guwahati plant, he highlighted the importance of partnerships. "Just before Christmas, as we were unloading the KBA (now K&B) machine, a 12-ton unit fell. This could have delayed our plant opening, but the K&B team air-freighted a replacement without insurance, allowing us to stay on track."

With operations spanning 11 states in terms of offices and operations, TCPL has expanded into sectors including packaging for tobacco, pharmaceuticals, personal care, food and beverage, mobile phones, toys, stationery, and electrical products, covering the entire spectrum. In the last seven years, we are also into flexible packaging, which now accounts for 20% of our revenue. "We foresee significant opportunities ahead as we work in niche markets," Saket said.

With eyes on niche markets, TCPL aims to capitalise on what Akshay Kanoria calls “India’s USD 4-trillion economy poised for growth.” As Saket Kanoria put it: “This isn’t just expansion—it’s about people connecting to drive India’s next chapter.”