New Delhi, May 14 (PTI) The Indian Institute of Packaging (IIP) on Wednesday announced the launch of the National Packaging Innovation Challenge, aimed at students and startups to foster scalable and creative packaging solutions.

IIP Chairman Sunil Jain at the foundation day event here said the challenge focuses on the promotion of sustainable packaging for Aatmanirbhar Bharat, export packaging and packaging innovation for MSMEs.

IIP, an autonomous body under the Ministry of Commerce & Industry, also conducted a live Packathon, a real-time innovation contest addressing industry-specific packaging challenges.

IIP Additional Director & Regional Officer Tanweer Alam said increasing global demand for sustainable packaging offers a significant opportunity for Indian manufacturers.

According to industry estimates, the global biodegradable packaging market is projected to reach USD 176.9 billion by 2032 against USD 98.7 billion in 2023.

The Plastics Export Promotion Council expects India's plastic export value to double from USD 12 billion to USD 25 billion by 2027.

Highlighting the immense potential for youth in the packaging industry, Sunil Jain said, “With global demand on the rise, skilled youth can lead the next wave of transformation.” PTI RR BAL

Sustainable packaging innovation drives a national challenge to spur startup and student solutions and strengthen export competitiveness. The Indian Institute of Packaging launched a National Packaging Innovation Challenge targeting students and startups to promote sustainable packaging, strengthen export packaging, and drive innovation for MSMEs, complemented by a live Packathon to solve industry specific packaging problems and boost youth skills and industry collaboration.