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Innovate or perish- Radico Khaitan’s mantra

Indian packaging and labeling companies have vastly improved over time, says Sanjeev Banga, President – International Business, Radico Khaitan. He, however, feels they have a long way to go if they are to match global standards.

When it comes to packaging and presentation, the consumer today is looking for something new, innovative and at the same time eco-friendly. And the innovations are not targeted at the millennials alone but across the board. However, millennials are more willing to experiment and try something new, says Sanjeev Banga, President, International Business, Radico Khaitan. Giving a deeper understanding about the packaging philosophy of his company, he says: “As we preimmunize our portfolio, superior & innovative packaging is a must. Newer developments and newer technology in this field has led to upgradationof the packaging industry and eventually the end product. The mantra,he says is ‘innovate or perish.’ One needs to get out of the comfort zone and adopt newer technology. But the support system too, needs to follow suit. Talking about innovating packaging of his products, Sanjeev says his super premium brands compete with the best in the business, globally speaking. “Be it Rampur or Jaisalmer, we have created exquisite packaging that conforms to world standards.”

Future plans Asked whether his company is willing to spend more to get the best and most innovative designs, he reveals that they are working with some of the best packaging brains in the world and will come out with more innovative designs in the near future. He also revealed that they are also working on Augmented Reality (AR) labels. How do Indian companies fare with foreign brands in terms of packaging and new ideas? “Indian companies have been well aware of the need for improved packaging and am glad to see newer brands coming with great packaging.” Even old established brands are undergoing enhancements. He goes on to say that his company has a presence in 85 countries and they do collaborate with the best packaging companies across the world. What is his take on Indian packaging & bottling companies? “ I see a lot of improvement but we have a long way to go, before we come at par with the global standards. Glass bottles is still a big dampener. International quality closures came to India more than two decades ago, but global innovations are still not available in India.”In the next five years, interactive packaging, usage of eco-friendly material is some of the things that will become more popular, he adds.