Talking of discoveries and innovations, one segment that took an amazing leap in the last century is the printing technology and printing business. From stone plates’ era to 3D printing, the rise of Online Printing business is phenomenal in terms of quality and ease of printing.
In Indian context, potential of the printing business is tremendous. Thanks to easy access to the internet, the online printing business is flourishing like never before.
Potential of Printing The growth of economy relates to the growth in the industrial sector. The astronomical rise of various brands and ever-rising competitions takes printing business to the next level. Now, more and more young IT-savvy young entrepreneurs are entering into a printing business that includes 3D printing. The rise of startups in 3D printing business is one reference that points to tremendous overall printing potential in India.
Online Printing Business Way to Go The Indian printing industry is on the express highway of growth. Besides the established printers in traditional offset, dry offset, and screen-printing business, a new crop of young entrepreneurs are making their presence felt. As latest 3D printing does not require huge capital, they begin with a PC, printer, and internet to begin the business. Their contribution to the printing business is undeniable.
Driving Force in Printing Biz The printing business has unlimited scope for printing on papers, office stationery, garments, utensils, advertising & display medium. However, the main driving force of industrial growth rests on packaging and labels. The printing market for packaging and labels took a lion’s share last year with 43% gains from the total Indian market. The market assumption of the growth this year pipped at whopping 11%. This demand majorly attributes to the mid-section business and users.
Figures Tell All The print business in context of overall growth rate shows healthy signs of 4% growth per annum. In the year 2018, India is set to become the fifth largest printing market moving up from the 10th position. This is huge in global context, as no other country is going at this pace in printing media. This fact highlights the potential for suppliers of printing machines, inks, and paper beside other accessories.
According to the figures given by the association of printing machinery association, the sales figures for printing machines have doubled in the last decade. During this period, the export to 120 countries in this field, have gone up steeply to more than double.
Indian Printing Market Stats- The annual turnover of all areas of printing stands at INR 50,000 Crore or $11 Billion. Indian printing industry by an estimate will be worth INR 374Billion by the end of 2018. The industry employs 700,000 people directly and 450,000 indirectly. More trained people will be the need of the industry in various government and private enterprises in coming years. These facts speak louder than the words.