IIP to develop six towers in Mumbai
As per the director of the Indian Institute of Packaging (IIP) which is the national apex body established in 1966, they are going to develop 6 towers in Mumbai which will consist of academics, hostel and lab facilities with the total cost of Rs 250 crore.
He further says that the ministry has approved Rs 70 crore to the IIP and construction work on the first tower. The first tower should be ready by the end of 2016.
He further mentioned that the IIP has currently 6 regional centers in Mumbai, Delhi, Kolkata, Hyderabad, Bangalore and Chennai. It is also planning to open the 7th regional centers at Guwahati and the proposal of opening regional center at Indore, Gurgaon and Gujarat are in pipeline. He also added that the IIP is planning to add new features at its Hyderabad centre at a cost of Rs 2 crore.
Mr. Saha says that the Indian packaging industry has a great strength for growth and offered a lot of carrier opportunities. He further says that the Indian packaging industry is expected to grow at a compound annual growth rate of 12.3 percent during the next four to five years to become the fourth-largest market in the world with sales of $42.7 billion.
Source: The Business Standard
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