Chennai, May 31 (UNI) Tamil Nadu Governor Banwarilal Purohit on Friday said the book publishing industry in India was booming with an annual growth rate of about 30 per cent. Inaugurating the ‘eAge Print-2019’, an exhibition organised by the Madras
Printers’ and Lithographers’ Association (MPLA) here, he said the prospects for the printing industry were very bright. The industry, as a whole, was estimated to grow at a rate faster than the annual GDP growth rate of seven per cent. Observing that the figures speak for themselves, he said in 2017, the value of the Indian print industry’s worth was estimated to be around Rs 660 billion.
It grew to Rs 734 billion last year and were projected to reach Rs 862 billion by the beginning of the next year, he added. Mr Purohit said opportunities for print packaging and print publishing were growing considering the rising literacy rates, a youthful population and an expanding economy that India is witnessing today.
‘In fact the print packaging industry is growing at an annual rate of 17 percent and commercial printing at an annual rate of 10-12 per cent’, he said and pointed out that India was the sixth largest book market in the world and currently the second largest for books in English, behind the United States.
It should therefore come as no surprise to anyone that the book publishing industry in India was booming with an annual growth rate of around 30 percent, he added. He said India has also moved up from the tenth position to the fifth position in international rankings on the basis of print volume. All this augurs very well for the future.
Noting that technological advancements were also opening up new frontiers, he said the number of surfaces one could print on, ranging from plastic to metal to glass, was increasing.
The industry was also transforming itself from one that relied on heavy machinery to a more software-centric business. ‘Now, Indian printers are equipped with the latest computer-controlled printing machines and flow
lines for binding, with state-of-the-art digital technologies being usedin pre-press activities’, Mr Purohit said.