One of India’s leading label printers, Mumbai-based Mudrika Labels, has closed 2024 on a high note and expects 2025 to be a major investment year. The company reported strong growth in 2024, driven by investments in technology. In 2025, Mudrika Labels will embark on a substantial investment drive to fuel high double-digit growth for the next four to five years.
Manish Desai, director of Mudrika Labels, highlighted the latest addition of a Lombardi 10-color, fully integrated press with advanced security features, which has enhanced the company’s production capabilities. “The year 2024 was a year of growth and innovation for us. We added a state-of-the-art press and a finishing solution, allowing us to meet evolving customer demands and solidify our market position,” Desai said. With a fleet of 14 presses, including Gallus, Kopack, and Lombardi machines, the company is well-equipped to meet increasing demand across various sectors.
Looking ahead to 2025, Mudrika Labels is optimistic about sustaining its growth trajectory. Desai forecasts double-digit expansion, aligning with the bullish outlook for India’s label industry. “We are planning major investments in 2025. I will not give the details right now but I want to say that the upcoming investment will be the foundation for the double digital growth in the next four to five years. The Indian market is buoyant, supported by rising per capita income, increasing consumer demand, and government backing for industries. This growth extends beyond Mudrika; the entire industry is poised for major expansion,” he stated.
Exports growing
Mudrika Labels is actively expanding its footprint in international markets, with a strong emphasis on exports. According to Desai, the company has witnessed consistent demand from global clients, particularly in regions such as the United Arab Emirates, Africa, and Southeast Asia.
“Exports now account for over 20% of our revenue, and we aim to increase this share in the coming years by focusing on high-quality, value-added labels. Our presence in the export market has grown rapidly post-Covid,” Desai noted. He highlighted that Mudrika’s ability to deliver custom solutions, coupled with its adherence to global standards, has positioned it as a reliable partner for international customers seeking premium packaging solutions.
“We are very bullish about our capabilities when it comes to serving global customers. The China plus 1 strategy of global customers has helped Indian companies. We expect this trend to continue and at Mudrika we are focusing on capitalizing on it,” Desai added.
Challenges and opportunities in the label industry
While the Indian label industry continues to grow, challenges persist. Desai pointed to the influx of small-scale players equipped with entry-level machinery, which has led to pricing pressures and unhealthy competition. “Many newcomers lack financial acumen and focus solely on technical aspects, disturbing the market with unsustainable pricing,” Desai explained. He emphasized the need for industry-wide efforts to promote healthy competition and ensure long-term sustainability.
On the brighter side, evolving customer demands and technological advancements are creating opportunities. High-end customers are increasingly quality-conscious, seeking features such as advanced screening, security measures, and innovations like perforated pouches for extended shelf life. “Companies such as Mudrika, with their focus on quality and mass production, are well-positioned to capitalize on these trends,” Desai said.
Industry drivers and long-term outlook
The Indian label industry’s growth is propelled by rising domestic consumption, government support, and expansion across sectors such as FMCG, electronics, and mobile manufacturing. Additionally, Indian manufacturers are gaining a foothold in international markets, with exports of self-adhesive labels on the rise.
“India’s growing standard of living and increasing consumption will continue to fuel demand for packaging and labels. The next 5-10 years present a tremendous opportunity for the industry to thrive. At the same time global markets offer an area of opportunity too,” Desai affirmed.
Desai said the steady growth in recent years has been driven by factors such as increased demand and diversification of product offerings by label converters. He noted that companies are increasingly venturing into shrink sleeves, and in-mold labels (IMLs), in addition to traditional self-adhesive labels.
“Labels are no longer just about self-adhesive options. The industry is catering to various requirements, including shrink sleeves and roll-to-roll printing for beer bottles and juices. This diversification is pushing converters to widen their product range,” Desai said.
