Label links strengthened thanks to FINAT

Label printing links between Europe and India are being strengthened considerably due to almost 250 face-to-face meetings between printers from both regions arranged by FINAT and its partners who have created the unique Euro-India Labeling Exchange.

One company’s verdict was that the event was ‘an excellent opportunity to get in contact with more than 10 companies within a few days, which would have taken us years to achieve by ourselves’.

The Euro-India Labeling Exchange is the creation of FINAT, the national labeling trade associations of India (LMAI) and Germany (VskE) and supported by the EU’s Asia Invest program. The get-together, held in New Delhi on December 5-6 2006, attracted almost 40 small and medium sized label printers, evenly divided from both regions, who see major opportunities from co-operation and trading links.

The Indian sub-continent is becoming one of the key economies of the world and presents tremendous opportunities for label printers seeking to serve this growing market.

FINAT recognized the need to act as a matchmaker to introduce interested companies to each other and organized 12 rounds of 20 parallel face-to-face sessions, each lasting 30 minutes, to enable them to explore the potential for mutual business-to-business co-operation in areas such as knowledge exchange, technology, education, trading partnerships, outsourcing, procurement, marketing, joint ventures and shareholder agreements.

These initiatives were continued during breaks between and after the formal sessions and helped establish a high degree of mutual trust and understanding.

The success of the venture was summed up by one European company whose representative said: ‘Several of our customers have said they intend to invest in the growing Indian market and asked us whether we could provide them with a local printer’.

Another commented: ‘The face to face meetings were an exciting experience because discussion partners could look after their own interests. The trip brought us more than it cost and within a very short period gave us a good overview of what is possible in the Indian label industry. Knowledge of label printing, no language barrier and top grade technical equipment may be the key to future partnerships.’

The event also raised expectations about common business opportunities for Indian label printers. As one representative said: ‘The Euro-India Labeling Exchange has opened new spheres of expansion and growth for the Indian label manufacturer. It was a good platform for the labeling industry in India, and such dedicated efforts could help to develop our markets in a big way.

Another participant commented: ‘The program was very good. I got a chance to interact in great detail with some of the label manufacturers in Europe. These contacts have opened the label gates of Europe to Indian manufacturers. I see a great mutual opportunity for label exports as well as business process outsourcing.’