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New Delhi: Switzerland-based SIG Group, an aseptic carton packaging solutions provider is planning to set up a manufacturing unit in India with an investment of 60 million euros, Samuel Sigrist, Global CEO of the company told ETRetail. 

The company is currently scouting for locations. Once finalized, the manufacturing unit will be set up in 12-18 months' time, shared Sigrist adding that the brand is looking to start local production by 2024.

“We are now in the process that I would describe as locations counting. There is a clear aspiration to have the plant, up and running by 2024. Normally after the decision is made, it takes us 12 to 18 months. So if we conclude quickly on the location, it’s a realistic timeline to be local by 2024. That's a commitment of 60 million euros.”

Sigrist who was on a two-day visit to the country shared that India is an important growth market for Asia Pacific and globally for the brand. He added that the company aspires to acquire a double-digit market share in India on the back of differentiation in terms of affordability and sustainability.
“India is not the only gonna be an important market for Asia Pacific, but for us globally. I think we identified India as one of our global growth engines and we are absolutely committed to the market.”

SIG for the year 2021, recorded a core revenue of 2.05 billion euros. The Asia Pacific region accounted for 33 percent of the company’s revenues and Sigrist believes that next year the Asia Pacific might become the largest business segment for the brand.

SIG entered India in 2017 and has set up its local headquarters in Gurugram. The brand competes with the likes of Tetra Pak, which is the market leader in India. 

The company has worked with brands such as Coca-Cola, Amul, Dabur, PepsiCo, ITC, and Haldiram’s. Going ahead, the brand is focusing on developing India-centric solutions for mid-sized brands, smaller dairies, and juice brands, at affordable prices, he shared.