Nov 27, 2020
ITC Paperboards and Speciality Papers Division of the ITC group is concentrating on the value-added paper packaging business and import substitution gave the unfolding opportunities in new segments of the packaging business. It will focus on sustainable packaging solutions with the development of innovative B2B value-added paperboards.
The new paperboards are emulsion-coated with a barrier that can withstand oil, grease, and the strains of varying temperatures of take-away food.
ITC is aiming to import substitution, capacity building, and process innovation to build a competitive value chain. With the growth of e-commerce, the need to store food items in new packaging replacing plastics, and increasing focus on environment-friendly packaging opens up a big business opportunity.
The paper division business closed the last financial year with revenues of ₹6,100 crores and saw about 10 percent of its products being exported. Exports are likely to go up. In value terms, exports account for 15 percent.
Over the years, ITC’s social forestry has greened over eight lakh acres and created 150 million person-days of sustainable livelihoods for tribal and marginal farmers. These plantations help sequester more than twice the carbon dioxide emitted by all the units of ITC, thereby making it the only carbon-positive company in the world for 15 years in a row.
According to a study, the eco-friendly packaging industry will grow at a CAGR of 7.5 percent from 2020 to 2025. This presents a huge economic opportunity for the producers and makes it imperative for packaging solutions and processes to become more sustainable.