E-recycling-issues-and-solutions

E-WASTE RE-CYCLING – BUSINESS OPPORTUNITIES

E-waste typically includes discarded computers and components, cathode ray tubes (CRTs), printed circuit boards (PCB), mobile phones, headphones, wires & cables, and white household goods such as liquid crystal display (LCD), plasma TVs, ACs, refrigerators etc.

As per Industry body ASSOCHAM, India’s e-waste generation is likely to increase by nearly three times, from the existing 18 lakh MT per annum to 52 lakh MT per annum by 2020 at a compound annual growth rate (CAGR) of about 30%[1].

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Despite increasing number of registered recyclers/dismantlers in the country and large volume of E-waste generated, only about 5% of it is processed through formal sector. The remaining is either donated or goes to Kabadiwalas.

For example, although Hyderabad generates about 32 000 metric tonnes of E-waste annually[2] and total annual capacity of Hyderabad’s major recyclers is approximately 20,000 MT per annum (As per list of TSPCB-registered Dismantlers,) the formal sector recyclers do not get adequate waste.

The biggest e-waste recycling market in India is Delhi and approximately 30% to 40% of the e-waste in India lands there.

Process

The figure below depicts the step-by-step process for recycling e-waste.

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Current Players

The total number of registered E-waste recyclers in India is 159, whereas Hyderabad has 4[3].

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Capital Expenditure (CAPEX) for Various Options

E waste recycling chain begins with a collection centre, which can be set up for Rs. 10 lakhs. However, standalone collection centres are not encouraged to register, unless they are being set up by a recycler/refurbished or an electronic product manufacturer.  A collection centre combined with a dismantling unit can be set up for around Rs. 40 lakhs.  In India, recycling is restricted to separation of Metal and Non-metal and granulation, as the technology for extraction of precious metal is not economical.

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Regulatory Requirements

The industry is governed by e waste rules which specify the approvals and infrastructure requirements. The approvals need to be obtained from State pollution control body.

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The e waste sector has grown at a slow pace over the last five years, largely due to lack of awareness about e waste rules,  absence of strict guidelines for disposal of e waste and challenges from the informal sector recyclers who are able to offer a better price for the waste. However, the regulations around e waste are expected to tighten and would bring unorganised sector into mainstream.

Opportunities for a New Enterprise

While opportunities for e waste recycling are only expected to increase in future, profitability would depend on the value addition done by the enterprise.  Therefore, aspiring e waste companies would also need to build skill sets in e waste segregation and in identifying reusable waste. We believe that

  1. Collection centre as such will remain an un profitable proposition, as just collecting the waste does not provide enough value addition/margins
  2. Dismantling can be a profitable option if you are able to establish a network of waste collection centres (perhaps from the unorganised sector) and develop skill sets to identify reusable waste
  3. Setting up a refurbishing centre, where salvaged computers/phones can be repaired using new or old components should also be attractive.
  4. Recyclers would need a large network of collection centres or need to import waste to ensure capacity utilisation.

How we can help you?

We can help you set up E waste recycling unit through a number of services including

  • Market viability assessment
  • Technical consultation and
  • Project execution support.

Reach Us

Write to us: bchhatre@finetrain.comadmin@finetrain.com

Call us: 800 888 4932 /9032398367

Visit us: www.finetrain.com

 

[1]Source: The Hindu – article dated at June, 2016

[2] Source: ASSOCHAM-Frost & Sullivan study, April, 2016

[3]Source: List of Registered E-Waste Dismantlers/Recyclers in the country (as on 29-12-2016)

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Fruits & Spices Processing Industry: Opportunities In AP & Telangana

The fruits and spices processing industry in Andhra Pradesh and Telangana is poised for a significant growth.  Bountiful availability of raw material along with positive policy environment that will build supply chain infrastructure is likely to create many new enterprises. This blog discusses the new opportunities, policy initiatives and funding availability for the industry.

What are the opportunities?

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Enabling environment 
Pic: 1 –  Food Processing Industry: Government Policy

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Note: Enclosed is a link to the Food Processing Policy of AP
Creation of Infrastructure for Food Processing Industry

GOI as part of its Mega food park scheme has sanctioned four food processing parks in Telangana. The details are as under

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Andhra Pradesh has SRINI Food Park in Chittoor, which is operational. Further, the state government has proposed to set up 8 mega food parks. Five of these parks will be located in the coastal districts of Srikakulam, Vizianagaram, Visakhapatnam and East Godavari. Three more parks are proposed in the Rayalaseema in Chittoor, Kurnool and Anantapur.

Funding for Food Processing Industry

A fund of Rs. 2000 crore has been created under NABARD to fund the term loan for food processing industry. The fund is available for food parks as well as units that are located in food parks. Key features of loan are as under:

  1. The loan is available to food processing units located in designated food parks[1]
  2. The list of activities that would be funded include fruits/vegetable/dairy/meat/aqua/herbs/nutraceutical/food flavours, colours, detailed list is available in the link here
  3. Maximum 75% of the project cost would be funded through term loan. Project cost would include site development/machinery/consultancy charges/capitalised working capital/pre-operative interest etc. If the individual is purchasing land (not leasing), 10 % of the land cost would also be included
  4. Term loan would be for a period of 7 years, The rate of interest would be linked to the prevailing interest
  5. Collateral would be required
How can we help you:

If you are interested in setting up a food processing industry, there is no better time than now. We at FineTrain can assist you in starting a fruit/spices processing unit. Our services include

  1. Market viability assessment
  2. Detailed project report preparation
  3. Technical support
Reach Us:

Write to us: bchhatre@finetrain.comadmin@finetrain.com

Call us: 800 888 4932 /9032398367

Visit us: www.finetrain.com

[1] Food parks and mega food parks promoted by Ministry of food processing, food parks/food processing industrial estates promoted by State governments, Food processing SEZ, Any other area that has related infrastructure and has been designated as food park, the MOFPI has provided a list of such entities

 

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PET

Business opportunity: PET recycling

Ever thought about what happens to the cold drink/juice/mineral water bottle after we have discarded it. About 70 per cent of PET bottles are recycled and reused in textile and packaging industry.

India is one of the largest recyclers of PET in the world, next only to China. The industry is growing at a rate of more than 25 per cent per annum. India consumes around 800,000 tonnes of PET resins annually, around 70 per cent of which is collected and recycled. PET recycling business has a turnover of Rs 3,500 crore[1].

PET recycling business is concentrated in Maharashtra and Gujarat, textile and packaging hubs of the country. There are not many PET recycling units in Andhra Pradesh and Telangana. Given that both Telangana and Andhra Pradesh are bountiful in cotton and have identified textile as a focus sector, PET recycling can be an attractive opportunity.

PET Recycling Process

PET bottles are collected by rag pickers and eventually find their way in the recycling factories. Here the bottles are crushed to make PET flakes that are cleaned, cleared of other polymers, hot washed and dried. These flakes can be further processed into fibres (for textile) or injection moulded/ blow moulded for other applications.  The quality of PET is measured in terms of its purity (PPM, particle per million of impurities) and its hardness (Intrinsic viscosity, IV).  The quality of PET flakes is dependent on the input as well efficiency of the washing process.

Market

In India recycled PET (R PET) is not allowed for packaging of food items. The key end use applications of RPET include textiles, PET straps and home furnishing. Nearly 70-80 per cent of R pet is consumed in textile industry.

Products can be made from PET Flakes

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The industry players are of two types, PET flakes manufacturers and integrated players who process the flakes into fibre or other products. The table below describes some of the integrated players.

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Budget

A PET flakes manufacturing unit (comprising PET grinder and washing line) of a capacity of 300 kg per hour can be set up within a budget of Rs. 1 crore.  The land requirement would be around 1000 sft. One also needs to develop a strong network of/chain to collect PET waste.

How can we help?

We can help you set up PET recycling unit through a number of services including market viability assessment, technical consultation and project execution support.

Reach Us

Write to us: bchhatre@finetrain.comadmin@finetrain.com

Call us: 800 888 4932 /9032398367

Visit us: www.finetrain.com

[1] Source: http://www.petrecycling.in/ and Reliance industries presentation in

ASSOCHAM’s 4th National Conference on ‘Waste to Wealth

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Business Opportunity: Cold Storage

Cold storages are large refrigerated warehouses, commonly used for storing fruits, vegetables, processed meat, frozen foods and pharmaceuticals. Cold storages serve as an important link between farm produce and final consumer. The demand for cold storage services has been rising due to a growth in food and related industries.   There are over 7000 cold storages in India with a total capacity of 32 million metric tonnes, distributed across the country. A regional break up of cold storages across the country is given below.

Table 1: Cold storages in India

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 Source: National centre for cold chain development

Business models

Cold storages typically have two business models

  1. Food and Agri products storage: Cold storage stores items such as fruits, dairy, meat etc, which are required all through the year. The cold storage needs to be located close to the end customers and should preferably own some delivery infrastructure as well.
  2.  Off season products storage: Cold storage stores products such as chillies, potatoes, seeds for meeting the demand in off season. The cold storage needs to be located close to the source /originator of products. Majority of cold storages in India fall in this category.

A thorough analysis of market, key customers and business model is essential before starting a cold storage.

Machinery and profitability

The cold storage equipment has two important components: machinery and insulation panels. The machinery comprises compressors, evaporative condenser and motors. The walls of the cold storage chambers are fabricated with insulation panels, made of polyurethane.

Many of the cold storage machinery suppliers take up turnkey contracts and offer services to do civil work, install machinery and provide insulation. The cost of cold storage depends on a number of factors such as

  1. Capacity of the cold storage and the number of rooms/chambers in the cold storage
  2. Type of goods stored, typically divided into two categories: Plus temperature storage for vegetable/fruits/seeds and minus temperature for frozen products. The cold storages that offer facilities to keep frozen product would cost higher as compared to the plus temperature cold storage.

The key operational costs include electricity charges and manpower cost. And the capacity utilisation determines the profitability.

Budget

The cost of setting up a cold storage of around 3500 metric tonne would be close to Rs. 5 crores. The subsidy is available under the scheme from MIDH (Mission on Integrated Development of Horticulture (MIDH). The subsidy for a single temperature zone is Rs. 8000 per metric tonne for a capacity up to 5000 metric tonne. The subsidy is capped at 35% of project cost (excluding land)

How can we help you

We can help you start a cold storage unit through a number of services including business viability assessment, technical consultation and support in project execution.

 Reach us

Write to us: bchhatre@finetrain.comadmin@finetrain.com

Call us: 800 888 4932 /9032398367

Visit us: www.finetrain.com

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Manufacturing Fruit Bars: Solar Dehydration Technology

Fruit bars are healthy, nutritious and minimally processed,  thus make a great snack. Fruits such as Mangoes and Guavas are very widely cultivated in India. Given their pulpy constitution, these fruits are well suited to be processed into a bar.

Rising demand for healthy snacks, ample availability of fruits and relatively modest capital requirements make fruit bar manufacturing an attractive opportunity for small businesses.

Solar Dehydration Technology

Traditionally fruit bars were made by sun drying the fruit, the process is prone to contamination, making the product unfit for consumption. The process of solar dehydration refers to dehydrating the pulp in solar dryer, which dries the fruit evenly and keeps it safe from contamination. This technology is provided by SEED (Society for Energy and Environment Development), an NGO based in Hyderabad.

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Fruit Bar Manufacturing Process

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Budget

The minimum viable size of the project is 1 tonne per annum  and the cost of machinery (fruit pulper, boiler solar dryer and quality testing equipment) is around Rs. 10 lakhs. The total project including working capital and marketing budget can be set up within Rs. 15 lakhs. The land requirement would be around 800 sft, of which atleast 300 sft should be open space that gets direct sunlight.

How can we help you?

We can help you start a Fruit bar manufacturing unit through a number of services including business viability assessment, technical consultation and support in project execution.

 Reach us

Write to us: bchhatre@finetrain.com, admin@finetrain.com

Call us: 800 888 4932 /9032398367

Visit us: www.finetrain.com

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Business Opportunity: Candy Manufacturing

Candy is a confectionery made with sugar or chocolate and flavored with fruits and nuts. Candies are popular with adults and children alike and constitute a large market of around Rs. 6,000 crore[1] which is growing at a CAGR of 14 per cent.   The market is broadly divided into two segments: Hard boiled segment (Mango bite) and soft toffee (Éclair). Hard boiled segment accounts for nearly 30 per cent of the market and is growing at 24 per cent.

While the market has a large number of national players (such as Nestle, Parle etc), smaller/local companies have also been able to grow as they are able to offer differentiated product and sell locally. Some of the Hyderabad based players are as under.

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Candy is manufactured by dissolving sugar in the water or milk to make syrup, the syrup is boiled until it reaches desired concentration. The syrup is then cooled and molded into different shapes. The hard boiled candy is boiled for longer time vis a vis soft candy.

Production Process
Picture: 1 – Stages Involved in Candy Production Line

Candy production line

Picture: 2 – Candy Making Unit

Toffee-Depositing-Machine

Budget

Machinery with capacity 2 Ton per day around Rs. 20 Lakhs and the total cost including Land, Labor and machinery cost will not exceed Rs. 40 Lakhs. The minimum land required to put this plant is about 3000 sqft and the area requirement will increase with increase in machinery capacity.

How can we help you?
  • We can help you start a candy manufacturing business through a number of services including business viability assessment, market landscaping and expert consultation.
  • We also offer support in executing your ideas by connecting you with sector experts and professionals.
Reach Us

Write to us: bchhatre@finetrain.com, admin@finetrain.com

Call us: 800 888 4932 /9032398367

Visit us: www.finetrain.com

[1] Source: http://brandequity.economictimes.indiatimes.com/news/business-of-brands/ds-groups-pulse-candy-the-sweet-that-has-set-the-candy-markets-pulse-racing/51888159

 

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T- PRIDE: Promoting Entrepreneurship among Scheduled Caste and Scheduled Tribes

The Telangana State Program for Rapid Incubation of Dalit Entrepreneurs (T-PRIDE) aims to develop entrepreneurship among Scheduled Caste and Scheduled Tribes. The scheme, which covers both manufacturing and service sector establishments offers a number of incentives to start a new enterprise or expand an existing business. This blog discusses key features of the scheme and its contribution to Dalit entrepreneurship.

Picture 1: Key incentives for Micro and Small enterprises under T- PRIDE

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What type of enterprises are eligible?

In order to claim incentives under T-PRIDE, an enterprise

  • Should be 100 percent owned by SC or ST entrepreneur or both together in case of a joint venture.
  • Should commence operation on or after 1st January 2015 and before 31st March 2019.
  • Can be manufacturing or a service sector unit. For manufacturing units, certain sectors are considered ineligible (list included). For service sector, the government has specified a list of industries that are eligible (list attached).
  • Can be set up anywhere in the state, manufacturing enterprises if set up under GHMC limit, should be set up in the existing industrial estates[1], service enterprises can be set up anywhere
  • Can be a new or an existing enterprises that is expanding or diversifying its business, as shown in the table below.
Picture 2:  Eligibility parameters for existing and new enterprises

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When are these incentives given?

Generally, these incentives are given as reimbursements within 6 months of starting commercial production.  However in some cases, investment subsidy can be claimed before start of commercial production, provided the bank loan has been sanctioned.

How do I arrange finance for my project?

The finance for these projects can be obtained under Stand up India scheme, a scheme that aims to increase capital availability to SC/ST enterprises. In order to read more about Stand up India, please click here.

How many units have benefited thus far?

Based on our analysis of proposals sanctioned by SLC (State level investment committee of Commissioner of Industries, Telangana) during last two years, around 1100 enterprises have obtained approvals for incentives under T-PRIDE.  As can be seen in the picture below, transport and construction sector together account for around 60 per cent of incentive claims. Others, include hospitality, hospitals, mining, and engineering. In terms of geography, Warrangal accounts for highest number of claims, followed by Nalgonda and Karimnagar.

As such, there is a need to promote formation of new enterprises in manufacturing, agri related sectors as these boost employment and lead to development of district economy.

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How can we help you?

FineTrain is an advisory firm for small businesses; we assist our clients in starting or expanding their businesses.  We offer

  1. Advisory to help you to choose suitable business opportunity and DPR preparation
  2. Technical consultation
  3. Project implementation support
Reach us:

Write to us: bchhatre@finetrain.comadmin@finetrain.com

Call us: 800 888 4932

[1] The manufacturing units established in Sanathnagar, Azamabad, Chandulal Baradari and Kattedan Industrial Estates of Hyderabad and Ranga Reddy Districts are not eligible for any incentives/concessions.

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Business Opportunity in Tamarind Processing in India

Tamarind is a popular spice and the products from Tamarind family are being used in Indian food since ages. Tamarind pulp is commonly used in all households, restaurants, roadside eateries etc in food preparations. Not just the fruit, even Tamarind seed powder is extensively used in industries such as Textile, Paper, Confectionary, Cosmetics and Pharmaceuticals.

Opportunity

India is the world’s largest producer of tamarind products, with a production of over 200 thousand tonnes[1]. Tamarind is cultivated in Karnataka, Tamil Nadu, Kerala, Andhra Pradesh, Maharashtra, Telangana, Pondicherry and Mizoram (see the picture below).

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The value of the production of tamarind in India is estimated to be around Rs.1608crs[2], exports account for over 11% of the total value. Processed tamarind is exported mainly to European and Arab countries.

Budget

The minimum budget for the plants such as Tamarind Pulp making or Tamarind Seed Powder would be around Rs. 50 Lakh including machinery cost, land cost and labour cost. The biggest challenge in this business is raw material availability and land requirements for storage of raw material. The area required to set up a processing facility would be upwards of 5000 sft.

Budget Estimation for Tamarind Processing Units

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How can we help 

We can help you start “Tamarind Processing Industry” through number services as shown below:

  1. Business viability assessment, market landscaping and expert consultation.
  2. Viability of setting up a Tamarind processing unit.
  3. Identifying most cost effective local suppliers for tamarind manufacturing unit.
  4. Connect you with the experts who can help you in setting up the tamarind processing plant.
  5. Preparing the detailed project report.
Reach Us

Write to us: bchhatre@finetrain.com, admin@finetrain.com

Call us: 800 888 4932

[1] Source: NHB, production figures are for 2014 -15.

[2] Assumed average price of tamarind is Rs. 80/kg which is then converted into tonnage price and multiplied with the total production of 200 thousand tonnes.

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MF_Compound+feed+in+sack

Business Opportunity: Animal Feed Manufacturing

India’s animal feed industry, currently valued at around $ 15 billion[1] is expected to double in the next five years.  The feed consumption is estimated to be 21.5 million tonnes, of which cattle feed accounts for 7.5 million tonnes, aqua feed 1 million tonne and poultry feed around 13 Million tonnes.

The state of Telangana and AP contribute to a large chunk of Indian feed consumption, as can be seen in the table below. Given the large size of the industry and its growth, it presents an attractive opportunity for small and medium enterprises.

Animal feed industry in AP and Telangana

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Competitive landscape of the Industry

The industry is competitive, with international, national and regional companies vying for the market share.  The table below provides information on important players in AP and Telangana.

Animal feed companies in AP and Telangana

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Manufacturing process and budget

The feed manufacturing operations comprise four steps; raw material preparation, mixing and grinding the feed, palletisation and packaging. The plant capacity typically starts from 2-3 tonnes per hour to 15 tonnes per hour.

Animal feed manufacturing process

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An automated plant with a capacity of 3- 5 tonnes per hour can cost up to Rs. 40 lakhs. Considering the machines and raw material inventory and infrastructure required to store the raw material, the budget requirement for the unit could be up to Rs. 1 crore.

How can we Help

  • We can help you assess viability of animal feed and related opportunities through a number of services including market research, detailed viability assessment and technical consultation.
  • We also offer support in executing your ideas by connecting you with sector experts and professionals.

Reach Us

Call us @ 800 888 4932,

Write to us- bchhatre@finetrain.com

Visit us- www.finetrain.com

 

[1] As per Yes Bank report on The Indian Feed Industry – Revitalising Nutritional Security

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Flexible packaging: Opportunity for SMEs

The Indian flexible packaging market stands at $5 billion (Rs. 3.36 thousand Crores)[1] and is growing at little over 15 per cent per annum. Rapid development of personal care, pharmaceuticals, and food and beverages industries is contributing to this demand. Considering this growth opportunity, many international players are entering the Indian market through mergers and acquisitions route. In FY 2014, Finnish company Huhtamaki acquired India based Positive Packaging Ltd, in 2015 Australia based Amcor purchased  Packaging  India Private Limited (a subsidiary of Mumbai based Essel Propack Limited), and more recently in 2016,Essentra Plc, a UK based packaging  acquired pharmaceutical packaging business of India’s Kamsri Printing & Packaging Pvt. Ltd.

Flexible packaging is an interesting business opportunity for Small and medium enterprises (SME), as it allow them to do business with other SMEs.  Majority of flexible packaging demand is from food related industry, an industry largely made of small and medium enterprises. Since the clientele are small businesses requiring customized services, they often need a service provider that is also a small business and is willing to devote time and effort to meet their specific requirements.

Flexible packaging is far lighter and can therefore contain more material per pack, flexible packaging’s pack to product ratio is much lower (1:40 vis-à-vis 1:10 in case of PET packs)[2] as compared to that of rigid packaging. Flexible packaging also allowsmanufacturers to produce packs in functional and complex shapes facilitating user convenience such as squeeze ability and reclose ability. Advance technology in printing provides aesthetic features, thus making products attractive to the final consumers.

1. Market:

India’s annual manufacturing capacity is 30 Million Metric Tonnes[3].The overall flexible packaging end-user industry can be divided in Food and Non-food sector. The food sector comprises 48% of the packaging market at 14.4 MMT/annum; the rest goes to non-food such as Pharmaceuticals, Personal care, Tobacco and others.

1.1  Figure 1[4]:

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In the food sector, the highest share is with Milk and dairy segment. India is the largest producer of milk in the world, at an estimated 40 Crores liters per day and a market size of around Rs. 80,000 Crores[5]Given the large opportunity, many international players such as Nestle, Lactalis SA, Arla foods Savera, Danone, etc. have entered the Indian market. Since cold food supply chain is a challenge in India and dairy products are highly perishable, the demand for high quality packaging that extends the shelf life of the product is evident.

Other than dairy, food sector also comprises packaging needs of confectionery and chocolates, processed fruits and vegetables, etc.

The non-food sector is ruled by the Pharmaceuticals. Indian pharmaceutical industry (Valued at Rs. 9.07 thousand crores[6]) is growing at a CAGR 15%. India ranks third in terms volume and 14th in terms of value, in the world. Pharmaceuticals can further be sub-divided into; Bulk/ drug, Formulations and Devices. While  bulk drugs market is dominated by rigid packaging such as PET containers, glass bottles, metals containers and cans etc, It is formulations and devices that drive the demand for the flexible packaging. Packaging market for pharmaceuticals is difficult to crack due to its inherent challenges in Indian scenario. The two major challenges are:

  • Strict regulations: Pharmaceutical industry requires a superior level of safety to that of food packaging and therefore the packaging provider needs to meet stringent guidelines as per Drugs and Cosmetics Act 1940.
  • Counterfeiting threats: Due to lack of patent protection, manufacturers in pharmaceutical industry are reluctant to share the constituents of pharmaceuticals they produce. The knowledge of constituents is required in deciding the composite of the plastic types and grades to be used in the pack.

2. Flexible Consumer Industry in AP and Telangana:

The table below enlists typical consumer industries and major brands under these industries based in Andhra Pradesh and Telangana.

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3. Raw material requirements and technical specifications:

A flexible packaging material is a combination of many films that are laminated together. Most commonly used raw material includes; BoPP (Bi-axially oriented Polypropylene), Bo PET (Bi-axially oriented Polyethylene terephthalate), Nylon, Polyester, Poly propylene etc.

kl

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4. Cost of project for starting a flexible packaging unit:

To start a flexible packaging unit producing a little over 200MT of laminates monthly, the minimum capital requirement would be upwards of Rs. 6 crores including machines, infrastructure and working capital. The budget would also depend on the market you would like to target and therefore the quality of machines.  The quality of printing machine is critical, as bad printing quality can lead of rejection of the material and adds to the cost.

5. Steps to consider before starting a flexible packaging unit:

First step would be to assess demand and supply of the packaging industry in your area, and identify the niche that you would like to serve. You may want to identify key clients that you would target and accordingly choose your marketing strategy.  You would also need to build a strong technical team that can meet client’s quality expectations, create innovative products and minimize wastage. As such, the following aspects need to be analysed before starting a flexible packaging industry

  • Market opportunity: Number and types of various flexible packaging consumer companies in the market such as FMCG, Personal care, Food and Beverages manufacturers, etc, their current vendors, requirements and pain points.
  • Competitive landscape: Number of players in the targeted market, their product profile, their clientele, number of years in business etc.
  • Production process: Raw material, man power & machinery required
  • Fixed and operational costs and profitability: Estimation on total initial capital required, working capital assessment, projected revenues, earnings and profitability.

Contact us:

Email: admin@finetrain.com

Website: www.finetrain.com

Number: 9032398367

[1] As per UflexLtd. investor presentation

[2]Source: FPA flexible packaging association

[3]Source: Business Standard article – January 15, 2016

[4]Source: www.consultmcg.com

[5]Source: Business today article  – June 5, 2016

[6]Source: Wiki, BDMAI, Ministry of Pharmaceuticals.

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