With a view to establish a strong foothold in the global market, the Institute of Packaging Machinery Manufacturers of India (IPMMI) along with Indian Flexible Packaging & Folding Carton Manufacturers of India (iFCA) has urged the packaging companies from across the country to consider the possibility of closely working with innovator companies to share their technology and develop required expertise in this field.

Both the associations stressed that this kind of initiative is required as it will help in leveraging the country's requirement for high technological innovations that are crafted as per the country's need through re-engineering.

It is believed that this will not only help the Indian companies to get access to world class technology that are tailor made to suit the requirement of the Indian companies but also will help them in exploring and promoting the export potential capabilities of the companies. P V Narayanan, secretary general, IPMMI and chief executive of iFCA pointed out that an agreement on transfer of technology will act as a huge boost to the Indian packaging industry who are lagging behind in research and development (R&D) activities to keep up with the changing trend globally by adopting the same technology in India as soon as it is launched by the innovators.

He added, “We strongly feel that it is high time for good technology to come to India, technology that are identified as the right technology based on the Indian needs. Indian companies should pro actively take steps to identify suitable partners who are ready to explore strong business relations with the Indian counterparts by initialising technology transfer which will be crucial part of this agreement.

The association stressed that this collaborative effort will be a win-win situation for both India and the partnering innovator company as the innovators will be able to access the Indian market through their Indian counterpart to promote their technological innovations. Whereas, at the same time, Indian companies will be exposed to know-how on the latest technological advancement in this field.

“This will enable the technology to be outsourced from the innovator company to their Indian counterpart where, using the same technology,  products will be indigenously manufactured according to the world standards with special focus on Indian requirement. Such collaborative efforts will focus on adopting products according to the highest quality requirements, helping the Indian companies to create a niche in the global market in the manufacturing and supply chain segment through its high quality products,” pointed out Narayanan.