With the commissioning of its fifth plant in Gujarat on Wednesday, DIC India increased its printing ink capacity by 10,000 tonnes per year. The company intends to use it to serve both domestic and international markets.

DIC India, a leading producer of printing ink, has invested around Rs 110 crore in phase one of the new plant in Gujarat's Bharuch district, bringing its total printing ink capacity in the country to close to 65,000 tonnes per annum. The plant will be expanded to produce value-added and specialty products for both domestic and export markets.

The company already has manufacturing facilities in West Bengal, Uttar Pradesh, Gujarat (Ahmedabad), and Karnataka, and it serves a variety of industries, including newspapers, magazines, and other printing and packaging businesses. According to DIC Asia Pacific Regional Managing Director Paul Koek, the company intends to use India as a manufacturing hub to serve both domestic and export markets.

He stated that the company is looking forward to the various free trade agreements (FTAs) that the Indian government is negotiating in order to facilitate business growth. DIC India currently accounts for 15% of the group's Asia Pacific revenues, which Koek expects to increase as trade with more countries opens up.

"The Indian market is a priority market for DIC Group, and this new manufacturing facility has been established with the vision of catering to the new demand as well as ushering in new growth prospects for us in the country," he noted. DIC India MD and CEO Manish Bhatia noted that a separate PLI scheme for the chemicals sector could help encourage more foreign companies to invest in India.

"We are optimistic that the new manufacturing facility will help cater to both domestic and international demand and expand our footprint in India," he noted.