Stock Report

Shish Industry's subsidiary to launch InPackaging

Posted On : 2024-03-08 10:36:58( TIMEZONE : IST )

InPackaging, has announced the launch of the digital platform, at upcoming event, "Packaging for a Better World, 2024," scheduled for March 9th in Ahmedabad.

InPackaging, founded by Shish Industries' subsidiary Shish Global Solutions, shall revolutionise the packaging industry with its comprehensive range of solutions with 5 verticals. These 5 verticals are Packaging Knowledge Forum, packaging products & services, packaging rental marketplace, EPR & PWP infrastructure and PRIDE Lab & Packaging Rating. www.inpackaging.com shall cater to all industries and all sizes of clients with its wide network of franchisees and business associates, including international clients. It will have all the packaging products including paper, plastic, metal, wooden, Flexible Intermediate Bulk Containers (FIBC), ancillary packaging materials, sustainable packaging and packaging accessories. With a steadfast commitment to sustainable innovation, InPackaging shall support optimum packaging while championing plastic waste recycling and sustainable packaging to fullfill the mission of circular economy.

This event serves as a platform to delve into discussions and solutions on sustainability, innovation, packaging finance, Extended Producers Responsibility (EPR), Plastic Waste Processors (PWPs) and cost-efficient packaging solutions, packaging standardisation, aiming to achieve a reduction in packaging costs by 10-50%.

Distinguished dignitaries from government, packaging industry, other industries, financial institutions, industry associations, and a large number of participants from India as well as International guests, will grace the event with their esteemed presence.

InPackaging has also onboarded Prof. Dr N. C. Saha, Former Director, Indian Institute of Packaging, Govt of India as Chairman Advisory Board as Advisory Board Chairman. Dr. Saha is the veteran and the most known personality in the Indian and International packaging industry fraternity. Dr. Saha will play the pivotal role advising InPackaging for formulating packaging specifications, sustainable products, building EPR & PWPs infrastructure, establishing State of the Art International Packaging testing laboratory for packaging materials and packages to ensure the get consistent quality of packaging materials and packaging rating.

The packaging industry in India has emerged as one of the fastest-growing sectors, experiencing consistent growth over the last decade. Factors such as substrate choice changes, market expansions, and government initiatives like the National Packaging Initiative have fuelled this growth. The packaging sector accounts for approximately 31% of total plastic usage, making it the largest consumer segment. As the government spearheads sustainable initiatives like Extended Producer Responsibility (EPR) and Green Packaging, consumer preferences are rapidly shifting towards eco-friendly packaging solutions.

Mr. Satish Maniya, Director and Co-founder, InPackaging highlighted the pivotal role of packaging in various sectors, emphasising, "Packaging products are the silent heroes of every industry, serving as the backbone of commerce and convenience. In India, where the packaging industry burgeons into a $85 billion business, responsible utilisation of resources becomes imperative. At InPackaging, we recognize the paramount importance of optimum packaging. By advocating for responsible practices and championing eco-friendly alternatives natural materials like rubber, bamboo, jute, coir and other raw materials, we aim to not only meet but exceed the evolving demands of the industry. InPackaging will play the role of Packaging Ecosystem ensuring end to end products & services from knowledge to compliances."

Dr. Prof. N. C. Saha, Chairman - Advisory Board, InPackaging said "I am delighted to be a part of such an enthusiastic team of In Packaging Advisory Board as Chairman.

Having been a part of the Packaging Industry for over 32+ years, trained more than 10,000+ Packaging students and experiencing global markets, National and International Standards on Packaging, it will be my pleasure to contribute my knowledge and expertise for the growth of Indian packaging industry to the global level through this revolutionary exclusive digital platform for packaging products and services. I am confident that various InPackaging initiatives will have a big impact on Ease of doing business by procuring high standard quality of packaging materials,efficient logistics & Supply chain management Services and financial support to MSME to encourage this segment for exponential growth of packaging in the years to come to achieve Sustainable goals."

InPackaging is making significant strides to establish "International Testing laboratory with "State of the art Infrastructural facilities to carry out more than 500 types of test parameters for thousands of different products over the next three years. Additionally, the company is gearing up to introduce rental packaging solutions within the next 6-8 months, furthering its commitment to sustainable practices.

Shares of Shish Industries Ltd was last trading in BSE at Rs. 117.85 as compared to the previous close of Rs. 119.30. The total number of shares traded during the day was 22675 in over 296 trades.

The stock hit an intraday high of Rs. 120.00 and intraday low of 115.25. The net turnover during the day was Rs. 2689719.00.