DuPont eyes 12-15% growth in packaging business over next 3-5 years

Diversified group DuPont today said it is looking at growing its packaging business in India by 12-15 per cent over the next 3 to 5 years.

"We are looking at growing our packaging business in India by 12 to 15 per cent over the next 3 to 5 years," DuPont Packaging & Industrial Polymers, Asia Pacific Marketing Director Roger Kant told PTI.

According to industry estimates, the food industry in India is growing between 15 and 20 per cent annually.

Despite slowdown in global economy, India and China are significant contributor to the company's growth.

DuPont will focus on developing specialty applications with packaging converters and end users to come up with solutions serving specific Indian requirements, Kant said.

"With growing middle class incomes, changing demographics and lifestyles, the need for quality and sophistication of packaging is changing in India. We will collaborate with experts across the value chain to focus on meeting emerging consumer needs," he said.

DuPont recently opened an innovation application centre at Gurgaon to cater to the food industry, Kant said, adding that the company will phase out its innovation centre in Pune.

The centre will allow DuPont to introduce formulations that are more convenient and affordable for more choices for the food industry, he said, adding that it spends USD 2 billion on global R&D expenditure.

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