India is crucial for our Net Zero Target: Samuel Sigrist, CEO, SIG Combibloc Group AG
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IG, a leading solutions provider of packaging for better, recorded exponential growth and is set to become one of the fastest growing aseptic packaging brands in India. The brand aims to expand its business in India with increased manufacturing capacities and partnerships with most of the biggest Indian beverage, juice, and dairy players.
It's India's aseptic carton journey started with two iconic customers ITC and Coca Cola India. Its growth in the sector can be attributed to its strong value proposition, which provides clients with innovative, aseptic packaging solutions. As a result, SIG is now associated with leading beverage players in India like Amul, Parle Agro, Coca-Cola, ITC, Milky Mist, PepsiCo, KMF, Dabur, Haldiram, and Creamline Dairy. Today, with a sturdy base of installed filling machines across the country and a full-fledged, experienced local team, SIG is looking to further accelerate its growth trajectory in India.
"SIG's growing customer base in India is a testimony to our attractive product offering and our sustainable packaging technology. With the new investment and increased production capacities, we are set to grow significantly in the upcoming years" states Samuel Sigrist, the global CEO of SIG.
Samuel Sigrist, visited India between April 3 and 5, accompanied by SIG executives, to open SIG's second production plant in Palghar, which specializes in the production of SIG's bag-in-box and spouted pouch packaging, previously marketed under Scholle IPN and Bossar.
He further added that, "The Switzerland-based food and beverage packaging major SIG Combibloc Group AG is betting big on India to meet its Net Zero Target by 2050. We have a huge challenge globally to feed the population and the effective way to do that is to reduce food waste. With our industry-leading packaging products that offer a substantial shelf life and durability while transportation, food wastage can be kept in check significantly. The population growth in India will continue to fuel our market growth and we are super happy to be part of that."
In the current context, SIG's expansion plans are in line with the "Make in India" initiative aimed at promoting local production. Keeping this in mind, the company recently announced the construction of its first aseptic carton plant in Ahmedabad, Gujarat. It will invest up to EUR60 million over the period 2023-2025. The aim is to reach a production capacity of 4 billion packs per annum. Additionally, significant further capacity investments can be made over time and buildings will be financed through a long-term lease with an NPV of approximately EUR30 million.
''It is impressive to see SIG's operations in India expand rapidly, even amidst market fluctuations and challenges. The company has demonstrated remarkable potential, and I am confident that this success can be attributed to its focus on sustainability and integrated production capacities,' says Vandana Tandan, Head of Markets for India, and Bangladesh.
SIG began operating in the Indian market in 2017. The brand has expanded its operations significantly and will have over 40 SIG filling lines for aseptic carton packs in operation at its customers in India by end of 2023.
Furthermore, SIG is also eyeing to unveil its globally acclaimed and innovative products in India which are an outcome of its comprehensive R and D strategies.
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✔️ India is crucial for our Net Zero Target: Samuel Sigrist, CEO, SIG Combibloc Group AG
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