Printing Industry in India

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PRINTING INDUSTRY IN INDIA

A DISSERTATION SUBMITTED IN PARTIAL FULFILLMENT OF THE DEGREE OF

Master of Philosophy

by

N. KRISHNASWAMY Enrollment Number: X4MEC22001

Research Guide

Dr. C. K. RENUKARYA, MA, Ph. D

DEPARTMENT OF ECONOMICS

UNIVERSITY OF MADRAS Chennai – 600 05

OCTOBER 2006

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Dedicated to Smt. N. VANAJA, my

Mother, Shri. K. NARAYANAN, my

Father, who made a printer out of me,

Smt. N. ANANTHIE, my Sister, Shri. N.

JEI RAM, my Brother, Miss K. MEDHA

VANAJA, my Daughter and Smt. K.

JAYASHREE, my Wife.

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CERTIFICATION FROM THE SUPERVISOR

I certify that the dissertation entitled ‘PRINTING INDUSTRY IN

INDIA’ submitted for the degree of Master of Philosophy by Mr.

N. Krishnaswamy is the record of research work carried out by

him during the period from January 21, 2006 to September 09,

2006 under my guidance and supervision and that this work has

not formed the basis for the award of any degree, diploma,

associateship, fellowship or other titles in this University or any

other University or Institution of higher learning.

Place: Mysore

Date: September 09, 2006

Dr. C. K. Renukarya, Ph. D.,

Professor of Economics, Director,

Pooja Bhagavat Memorial

Mahajana Post Graduate Centre,

K. R. S. Road, Mysore – 570 016

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DECLARATION

I declare that the Dissertation entitled ‘PRINTING INDUSTRY IN

INDIA’ submitted by me for the degree of Master of Philosophy

is the record of research work carried out by me during the period

from January 21, 2006 to September 09, 2006 under my

guidance of Dr. C. K. Reukarya, Ph.D, Professor of Economics,

Director, Pooja Bhagavat Memorial Mahajana Post Graduate

Centre, K. R. S. Road, Mysore – 570 016 and has not formed the

basis for the award of any degree, diploma, associateship,

fellowship or other titles in this University or any other University

or Institution of higher learning.

Place: Mysore

Date: September 09, 2006

N. Krishnaswamy,

Enrolment Number: X4MEC 22001,

Department of Economics,

Institute of Distance Education,

University of Madras,

Chennai – 600 005

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ACKNOWLEDGMENT

I take this opportunity to express my deep sense of

gratitude to my teacher and guide Dr. C. K. Reukarya, Ph.D,

Professor of Economics, Director, Pooja Bhagavat Memorial

Mahajana Post Graduate Centre, K. R. S. Road, Mysore – 570

016 for accepting me as his research student, his scholarly

guidance and immense encouragement throughout the tenure of

the preparation of this dissertation.

I am thankful to Dr. R. Rajkumar, Reader, Department of

Economics, Institute of Distance Education, University of Madras,

Chennai – 600 005 for extending all the possible help in bringing

out this dissertation.

I acknowledge thankfully the cooperation received from

the teaching and non-teaching staff of Institute of Distance

Education, University of Madras, Chennai during the course of

this study.

I express my sincere thanks to the All India Federation of

Master Printers and Madras Printers and Lithographers

Association and their office bearers and the administrative staff

for helping me with the needful information and data.

I am thankful to all the fraternity, well-wishers and

friends from the Printing Industry for giving the required

information for this dissertation.

I am overwhelmed with sincere feelings of indebtedness to

all the members of my family particularly my Amma who has

demanded excellence in whatever I do from my birth, my Appa

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who decided that his son should be a printer on my birth and

who has given me the confidence and to do whatever I decide to

do with involvement and my wife Jayashree who acted as my

support, proof reader, found happiness in what I do and giving

everlasting motivation and daughter Medha for providing the all

the more important inspiration to this project.

N. Krishnaswamy

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CONTENTS

List of Tables

List of Maps

Chapter Title Page No.

I INTRODUCTION 1- 20

II REVIEW OF LITERATURE 21 – 26

III METHODOLOGY 27 - 32

IV RESULTS 33 – 69

V SUMMARY AND CONCLUSION 70 – 79

BIBLIOGRAPHY 80 - 83

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TABLES

Table

No.

Title Page

No.

1.1 Growth of Commodity Production since

Independence

1.2 Average Annual Growth Rate of Production

1.3 Annual Growth Rate of Industrial Production

in Major Sectors of Industry

1.5 Major Manufactured Export Products

1.6 Distribution of operating surplus in different

manufacturing segments

1.7 Share of operating surplus in total output of

different segments in the manufacturing

sector: An Asian comparison (%)

4.1 NIC 2004 5 Digit Industry Classification,

Division 22

4.2 NIC 2004, 5 Digit Paper Industry Classification

4.3 NIC 2004 5 Digit Printing Ink and Printing

Chemical Industry Classification

4.4 NIC 2004 5 Digit Printing and Allied Machine

Manufacturing Industry Classification

4.5 Index of industrial production

4.6 Production of Paper and Board Industries

1950-51 to 2004-05

4.7 Production of Paper and Board Industries

1950-51 to 2004-05

4.8 Principal Characteristics by Industry Group for

Publishing, Printing and Related Activities

4.9 Estimate of some important characteristics by

3 digit of NIC'98 for the year 2003-2004

Comparison of All India Industries and NIC 22

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Table

No.

Title Page

No.

4.10 Comparison of Performance of NIC 22 with

GDP and Manufacturing Industry

4.11 Profitability in the Printing Industries Is

Declining

4.12 Return on Fixed Capital for the Industry is

Declining

4.13 Current Ration for the Industry is Declining

4.14 Interest Cover for the Industry is Fluctuating

and Declining

4.15 Change in value chain / Business Model

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CHAPTER – 1

INTRODUCTION

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CHAPTER – 1

INTRODUCTION

Industrialisation has a major role to play in the economic

development of the underdeveloped countries. The industrial

sector which possesses a relatively high marginal propensity to

save and invest contributes significantly to the eventual

achievement of a self sustaining economy with continued high

levels of investment and rapid rate of increase in income and

industrial employment. Besides, the development of mechanical

knowledge, attitudes and skills of industrial work, with

experience of industrial management and with other attributes of

a modern society which in turn, are beneficial to the growth of

productivity in agriculture, trade, distribution and other related

sectors of economy. Industrialisation is thus inseparable from

substantial, sustained economic development because it is both a

consequence of higher incomes and a means of higher

productivity.

Industrial development depends upon the rate of capital

formation. Supply of capital goods can be augmented either

through imports or through domestic production. Increase in the

imports of capital goods depends upon the rate of growth of

exports. The export–promoting industries, import substituting

industries and domestic capital goods industries are not mutually

exclusive.

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The Indian industrial structure reflected a lop-sided size-

pattern prior to independence and early sixties. The peculiarity of

the industrial pattern of India was the high concentration of

employment either in small factories and household enterprises,

i.e., the lowest size-group or that there is a high concentration of

employment in large factories, i.e., the highest size group. The

medium size factories are not developed in India. Another feature

of the Indian industry was the prevalence of low capital intensity.

It is the result of two factors – first, the general level of wages in

India is low and second, the small size of the home market in view

of the low per capita income and the limited use of mass

production.

India made tremendous progress in industrial sector since

1960s. The Table 1.1 indicates the growth of industrial output in

selected commodities. India has attained self-sufficiency in almost

all consumer goods. Growth of capital goods production has been

impressive

Table 1.1: Growth of Commodity Production since Independence

Commodity Unit 1950-51 1970-71 2000-01

Cloth Million metres 4215 7602 19718

Fertilisers (N) ‘000 tonnes 9 830 11025

Cement Million tonnes 2.7 14.3 99.5

Finished Steel Million tonnes 1.0 4.6 29.3

Electricity Billion kwh 5.1 55.8 499.4

Aluminium ‘000 tonnes 4.0 168.8 620.4

Paper and Paper

board ‘000 tonnes 116 755 3090

Commercial

vehicles

Thousand

numbers 8.6 41.2 152.0

Source: Economic Survey, 2001-02

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An impressive industrial capacity has been achieved in all

major and minor industries. The infrastructure including

Research and Development capability, consultancy and design

engineering services, project management services and innovative

capacity to improve and adapt technologies have indeed shown an

impressive record of progress.

Industrial growth has not been uniform since 1951. After a

steady growth of about 8 percent during the initial period between

1951 to 1965 there was a fluctuating trend during 1966 to 1985

averaging about 4 to 5.5 percent. The growth had picked up to an

average of 8 percent per annum since 1985.

Table 1.2 Average Annual Growth Rate of Production

1974-79 1980-85 1985-90 1993-94

to

2000-01

V Plan VI Plan VII Plan

Basic industries 8.4 8.3 7.4 5.8

Capital goods 5.7 7.1 15.7 7.5

Intermediate goods 4.3 6.2 5.5 8.5

Consumer goods 5.5 6.5 6.6 7.4

Durables 6.8 15.2 12.1 12.4

Non-durables 5.4 5.3 5.4 6.1

Source: Government of India, Ministry of Industry, Handbook of Industrial Statistics (1987 and RBI Handbook of Statistics on Indian Economy, 2001

The process of industrialization has not been able to make a

dent on the problem of unemployment. The high intensity of

public sector investment generated a very small amount of

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employment. Factory employment absorbed only 2 percent of the

labour force.

A significant feature of the Indian economy since

Independence is the rapid growth of the small industry sector.

This sector has been given a special role for creating additional

employment with low capital. The number of registered small –

scale units is 34.42 lakh in 2001-02 employing 19.2 million with

an output of Rs. 6,39,024 crores. The value of exports stands at

Rs. 69,797 crores in 2000-01, which is 39 percent of total

exports.

1.2 Industrial Sector in India

Industry and services have acted as the twin engines propelling

overall growth of the economy. In the six years between 2000-01

and 2005-06, on average, increased its share in GDP from 49.8

per cent to 54.1 per cent. Industrial sector had an accelerated

growth of industrial GDP at factor cost at constant 1999-2000

prices, from 7.0 per cent in 2002-03 to 7.6 per cent and 8.6 per

cent in the next two years. In the current year, industrial growth

is driven by robust performances from manufacturing and

Services. The Table 1.3 shows the annual growth rate of

industrial production in the major sectors of Industry

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Table 1.3 Annual Growth Rate of Industrial Production in

Major Sectors of Industry (Based on the Index of Industrial

Production) Base: 1993-94 = 100

(percent)

Period Mining &

Quarrying

Manufact-

uring

Electricity Overall

Weights 10.47 79.36 10.17 100.00

1995-96 9.7 14.1 8.1 13.0

1996-97 -1.9 7.3 4.0 6.1

1997-98 6.9 6.7 6.6 6.7

1998-99 -0.8 4.4 6.5 4.1

1999-00 1.0 7.1 7.3 6.7

2000-01 2.8 5.3 4.0 5.0

2001-02 1.2 2.9 3.1 2.7

2002-03 5.8 6.0 3.2 5.7

2003-04 5.2 7.4 5.1 7.0

2004-05 4.4 9.2 5.2 8.4

2005-06# 0.4 8.9 4.8 7.8

Source: Economic Survey 2005-2006, website: http:/indiabudget.nic.in

1.3 Manufacturing Sector in India

Manufacturing sector with a weight of 79.36 in industry has

always outgrown the industrial growth. In contrast to the sharp

fluctuations in agriculture, industry and services have continued

to expand steadily. The manufacturing process is defined as any

process for (i) making, altering, repairing, finishing, packing,

oiling, washing, cleaning, breaking up, demolishing or otherwise

treating or adapting any article or substance with a view to its

use, sale, transport, delivery or disposal; (ii) pumping oil, water,

sewage or any substance; (iii) generating, transforming or

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transmitting power; (iv) composing types for printing, printing by

letterpress, lithography, photogravure or other similar process or

book binding; (v) constructing, reconstructing, repairing, refitting,

finishing or breaking up of ships or vessels; (vi) preserving or

storing any article in cold storage. Indian manufacturing sector is

classified into two categories by National Accounts Statistics as

Registered manufacturing and Unregistered manufacturing on

the basis of the number of workers and usage of power. In 2002-

03 there were 1.28 lakh registered production units employing

78.9 lakh workers. The total output of the manufacturing sector

was Rs 10,87,865 crore and the gross value added Rs 2,15,006

crore.

1.4 Role of Manufacturing in International Trade

After witnessing an impressive growth since 2002-03, export

growth continued to maintain momentum during the year 2004-

05. According to provisional data available for April-January

2004-05, exports stood at Rs.274313 crore as against Rs.

2,22,864 crore in the corresponding period of last year, recording

a growth of 23.1% in rupee terms. Imports also witnessed a

robust growth of 32.1%, having increased to Rs. 3,76,815 crore

from Rs. 2,85,327 crore during April-January 2004-05. Many

sectors of the manufacturing have been able to make major forays

into the global markets over the last two decades. Though the rate

of growth has not been impressive, there has been a significant

acceleration in the trends in the more recent years. But their

share in world trade is about 1 to 7 percent only.

1.5 Role of Manufacturing in Economic Planning

Importance of manufacturing industry in the national economy is

indicated by many facts. For example manufacturing is the main

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producer and provider of all types of consumer durable and

nondurable goods. While agriculture and other major industries

provide for the basic sustenance of the nation and its people it is

the manufacturing industry which gives the value added products

for the consumer to enhance the quality of life and addition of

wealth. Only a sharp increase in the manufacturing sector

workforce would take the pressure off the agriculture sector and

increase income levels. Agriculture, supporting 60% of the

working population, contributes only 22% of its gross domestic

product. This mismatch between distribution of workforce and

value added in agriculture is one of the main reasons for the large

number of poor, and this trend is expected to further widen in the

coming decades.

Only a large shift of workforce from agriculture to

manufacturing will help improve rural incomes and reduce

poverty levels. If India is to achieve an overall growth of 8% per

annum, it is essential that both manufacturing and services grow

at more than 11% even when agriculture growth picks up to close

to 4%. A comparison with other major Asian countries show that

the size of the value added in the Indian manufacturing sector ($

66 billion in 2000) was less than one fifth of the Chinese

manufacturing sector ($ 373 billion) and even less than half of the

Korean manufacturing sector ($ 144 billion). Share of the

manufacturing sector in India’s GDP has remained stable at

around 17% while in China the manufacturing sector accounted

for around 35% of the GDP and in the case of Korea it was 31%

1.6 Performance Trends in Manufacturing

Manufacturing sector growth in India has fallen sharply in the

last seven years as compared to the first seven years after the

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reforms. Manufacturing sector growth slumped from 7.4% in the

first seven years of reforms (1990-91 to 1996-97) to just 4.7%

over the last seven years (1997-98 to 2003-04). Manufacturing

sector growth in the last seven years was lower than the 5.1%

growth clocked by industry or the 5.7% growth of GDP during the

period.

Indian Manufacturing Sector faces the following cost

disability factors such as (i) cascading effect of indirect taxes on

selling prices of commodities, (ii) higher cost of utilities like

power, railway transport, water, (iii) higher cost of finance and (iv)

high transactions costs.

A detailed investigation of 15 major manufacturing sectors

in India shows that the share of operating surplus in the total

value of output averaged 15% in India – much lower compared to

22.6% in Malaysia, 29.4% in Indonesia and 30.6% in Korea

resulting in low operating surplus. The average the share of input

materials and utilities in total output value was as high as 81.3%

in India as against 75.5% in China, 68.7% in Malaysia and only

58.5% in Korea. Estimates show that the average share of labor

costs in manufacturing across 15 major industries was 6.9% in

India as compared to 8.7% in Malaysia, 10.7% in Korea and 5.5%

in Indonesia. The Table: 1.4 draws a comparison between the

GDP, Industry and the Manufacturing sector

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Table 1.4: Sharp slowdown in manufacturing sector growth in

percentage terms

First seven

years (1990- 91

to

1996-97)

Last seven

years (1997-

98 to

2003-04)

Overall period

(1990-91 to

2003-04)

Manufacturing 7.4 4.7 6.0

Industry 6.5 5.1 5.8

GDP 7.8 5.7 5.7

Source: Annual Report 2004-05, Reserve Bank of India

There are 48 major manufactured products whose share in

the global markets has improved significantly between 1980 and

2000. The share of these 48 products in India’s total merchandize

exports has gone up from 40.3% in 1980, to 50.9% in 1990 and

further to 57.4% in 2000. The share of these 48 manufactured

products in the global market currently ranges between 1% to

13%. On the average their un-weighted share of the global export

market is just 2.8%. The list of the major 48 products is given in

the table below.

Table 1.5: Major Manufactured Export Products

Serial Major manufactured export products

1 Pearl, precious, semi-precious stones

2 Textile articles

3 Floor coverings, etc

4 Under garments non-knit

5 Developed cinema film

6 Textile yarn

7 Cotton fabrics, woven

8 Synthetic dye, natural indigo, lakes

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9 Women's outwear non-knit

10 Gold, silver ware, jewellery

11 Other organic chemicals

12 Lime, cement and building products

13 Iron, steel castings unworked

14 Headgear, non-textile clothing

15 Other fixed vegetable oils

16 Pesticides, disinfectants

17 Base metal household equip

18 Travel goods, handbags, etc

19 Under garments knitted

20 Textile clothing accessories

21 Woven man-made fib fabric

22 Lace, ribbon, tulle, etc

23 Pig iron, etc

24 Iron, steel wire, excluding wire rod

25 Outer garments knit non-elastic

26 Processed animal and vegetable oil, etc

27 Hydrocarbons, derivatives

28 Alcohols, phenols, etc

29 Carboxylic acids, etc

30 Organo-inorganic compounds, etc

31 Inorganic chemical element, oxides, etc

32 Other inorganic chemicals

33 Explosives, pyrotechnic products

34 Products of condensation, etc

35 Starch, insulin, gluten, etc

36 Rubber articles

37 Glassware

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38 Iron, steel primary forms

39 Iron, steel shapes, etc

40 Iron, steel universal, plate, sheet

41 Iron, steel tubes, pipes, etc

42 Aluminium

43 Tin

44 Structures and parts

45 Wire products, non-electric

46 Electro-medical, x-ray equipments

47 Office supplies

48 Musical instruments and parts

Source: Manufacturing Sector in India: Competitiveness and Other Issues, Federation of Indian Chamber of Commerce & Industry, January 2005

1.7 Operating Surplus in the Indian Manufacturing Sector

A detailed investigation of 15 major manufacturing sectors in

India shows that the share of operating surplus in the total value

of output average 15% in India as compared to 22.6% in

Malaysia, 29.4% in Indonesia and 30.6% in Korea. The Table 1.6

shows the operating surplus in different countries.

Table 1.6: Distribution of operating surplus in different manufacturing segments

Number of manufacturing industries

India Indonesia Malaysia Korea

Operating Surplus of above 20%

0 13 9 14

Operating Surplus of 10-20%

10 2 5 1

Operating Surplus of Less than 10%

5 0 1 0


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1.7.1 Operating Surplus of above 20%

In the case of India there was not even one single industry where

the share of operating surplus in total output value was above

20%. In contrast 9 industrial segments in Malaysia where the

operating surplus was higher than 20% and 14 manufacturing

segments each in Korea and Indonesia.

1.7.2 Operating Surplus of 10-20%

Number of manufacturing industries with an operating surplus

ranging between 10-20% of the output value numbered 10 in

India, 5 in Malaysia and one each in Korea and Indonesia.

1.7.3 Operating Surplus of less than 10%

The number of manufacturing industries with operating surplus

of less than 10% of output value numbered 5 in India, one in

Malaysia and zero in Korea and Indonesia.

Table 1.7: Share of operating surplus in total output of

different segments in the manufacturing sector: An Asian

comparison (%)

India Indonesia Malaysia Korea

Iron & steel 17.2 29.9 13.2 28.1

Glass 16.0 41.4 38.4 38.4

Rubber products 14.5 12.2 24 33.1

Electrical machinery 14.1 24.2 17.7 39.1

Non Electrical

machinery

13.2 30.9 19.8 27.2

Industrial chemicals 12.7 33 28.7 32.1

Plastic products 12.7 25.3 25.5 30.1

Non ferrous metals 11.5 29.0 18.9 19.4

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Printing & publishing 11.0 33.2 35.9 41.8

Transport equipment 10.9 51.3 21.0 30.1

Leather products 9.8 23.0 16.9 22.4

Metal products 9.4 28.3 20.6 31.4

Wood products 8.9 27.8 21.3 27.9

Food products 7.4 24.3 9.8 29.9

Textiles 7.4 26.6 27.6 28.5

Average 11.8 29.4 22.6 30.6


1.8 Printing Industry

Time magazine, in listing the 100 most influential events of the

second millennium, chose the printing of the Gutenberg Bible as

the most significant, because in creating the beginning of print as

we know it today, this event changed for all time our access to

knowledge and our ability to record and share information. The

printing industries today produce the most visible, most common

and most effective means of communication seen in our daily

lives. 1It is India’s Twelfth largest manufacturing industry

employer and a major contributor to the Indian economy.

However, India’s printing industries are at the cross roads.

The pace of technological change in the industry is nothing short

of phenomenal. Long gone are the images of plastic sleeved

printers stooped over typesetting cases. The industries in India

have moved from the traditional ‘ink on paper’ industry to

embrace an ever-increasing range of technologies and fields of

expertise.

And yet as printing industry it has not always had a clear

vision for its future. It does not always recognize the

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sophistication and size of the industry and the major role it plays

in people’s lives and in the economy. 2 Printing industries are the

third largest manufacturing industry worldwide, and the

twentieth largest in India in terms of gross output. The industries

undertake a wide range of activities including: the manufacture of

paper stationery, commercial and job printing, the provision of

services to industry, publishing and printing of newspapers,

books magazines and periodicals, and the manufacture and

publishing of audio, video and data media. In India, the printing

and related industries (excluding pulp and paper manufacturing)

comprise of some 3,007 printing factories and 1,06,993

unregistered printing presses.. These printing factories (greater

than 200 employees) employ 1,12,974 people. The overwhelming

majority of firms are small and medium enterprises employing

some 4,93,007 people.

The industry plays an important role in regional India.

Approximately 35% of graphic arts establishments are located

outside capital cities. There is also a significant presence of small

printers in the district and taluk levels. The long term economic

performance of printing industries is a cause for concern.

Diagram 1 illustrates the industry’s on-going slow slide in

profitability and return on assets. The future does hold lucrative

new business opportunities for Indian Printing. It is no surprise

that new high value opportunities will arise more and more in

what is termed in the market space as e-commerce and the

internet.

Traditional market place, ink-on-paper business

opportunities will still be available, of course. The challenge for

printers lies in developing innovative business strategies that

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cleverly exploit complementarity between market place and

market space business.

1.9 The 21st century — Navigating Complexity and

Flexibility

India’s printing industry faces a number of challenges as the new

millennium dawned. Rapid technological change will continue for

the foreseeable future. The processes of industrial convergence

will accelerate creating both opportunities and threats. Printing,

information and telecommunications industries will play key roles

in the new and emerging knowledge-based economy. The future

for Indian printing industry will be exciting, complex and

uncertain. To borrow a nautical analogy, in this situation the

industry must ready itself to navigate through uncharted waters.

This Dissertation – Printing Industry in India - aims to capture

this idea of ‘navigating’ through the uncertainties that the new

millennium is bringing.

Navigating the Future

Complexity Flexibility

Drivers of

Sustainable

Growth Appropriate use

of Technology

Creative and

Skilled People

Clear

Business

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1.10 A Brief History of Print

Plato spoke against the idea of writing in the 5th century BC. He

believed that being able to write things down, write words on

paper or parchment would ruin our natural capacity for memory.

From the 7th to 15th centuries ‘printing’ was largely in the form

of religious manuscripts, entirely constructed by hand. Then in

1452 the printing press was invented by Gutenberg, bringing

together the technologies of paper, oil-based ink and the wine-

press to print books using movable type.

The concept of ‘print’ was revolutionised in the late 1990s

when it came to mean anything that you can print on paper, a

computer screen or to any other media. This included words,

graphics, images, icons, holograms, AVIs, MPEGs, MP3s - the list

was endless. Combining this with digital presses and digital

workflows, the printing industry had an enormous opportunity to

capitalise on the next revolution - but it missed the virtual boat.

The IT and communications industries stole the lead even though

most of their employees were not educated in graphic design or

layout, let alone being able to effectively communicate with

images and words. But the printing industry survived on the

crumbs thrown to them by their bigger IT cousins - whenever

someone needed a better web page design or the occasional bulk

printing for a marketing strategy, they managed to find a cheap

printer who could do the job.

Two segments of the market survived and even prospered at

times: the print factories and the customised market printers.

The print factories operated by filling the bulk orders for clients

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who needed to distribute paper-based products: advertising

circulars, mail order catalogues and targeted brochures. The

customised market printers catered to a small clientele who

required specialist printing of books, documents, cards and very

small runs of other printed products. As it is known, this type of

printing can be easily done at work or at home, but sometimes

when that extra professional appearance to the printed products

are desired; that expert touch that current technology just can’t

quite produce.

1.11 Importance of the Study

What the industry has been, and what it is now, will not be what

it is in the next five to ten years. The industry has the will to

survive and thrive but it must transform itself in very radical

ways if it is to enjoy meaningful and sustainable growth in the

foreseeable future. In moving from the Industrial Age into the new

Age of Information, a vibrant and robust printing industry is

fundamental for the emerging knowledge based economies. In this

new world, in addition to traditional ‘ink on paper’ printing,

significant opportunities for products and services are opening up

as a result of the increasing shift towards electronic and

information based activity. The Indian printing industry has

recognised that it is operating in a turbulent environment

characterized by rapid changes in technology. It has to initiate a

process to assist the industry and its individual companies to

operate in what is becoming an increasingly more complex set of

pathways.

Bearing in mind this highly dynamic environment, the

dissertation does not aim to chart a single or narrow range of

directions for the industry in a way that may have been possible

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in less turbulent and slower changing times; it does not aim to

set out a prescriptive path for firms to take. Rather, its purpose is

to identify signposts that help the industry to focus on what it

needs to do today to be well prepared for an uncertain tomorrow.

The paper articulates a number of possible scenarios in which the

industry and firms may well find themselves in the future. For

these reasons the theme of ‘navigating’ has been adopted by those

developing this paper to present broad strategic guidelines for the

industry. Businesses will increasingly need to ‘navigate’

opportunities and threats often through ‘uncharted waters’. To

navigate successfully through the important impacts of future

changes will require business leaders and managers to consider

what their core competencies are, customers’ values and needs

and how to create and deliver value.

All the evidence points to prospects for growth. The real

issue for the industry, centres generally around the nature and

scope of future growth and more specifically being close to its

customers, understanding their needs and leveraging their

growth.

The springboard for future growth lies in the industry’s

current capabilities and how these may be developed to create

new capabilities to capitalise on the emerging opportunities. The

industry has talked about ‘survival’. This suggests a victim

mentality - this is a choice. But there are other choices:

1. Choose to creatively shape the future;

2. Choose to participate in the future;

3. Choose to fall victim to the future.

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1.12 Specific Objectives of the Study

The purpose of this paper is to:

1. Define/map the printing industry in India;

2. Describe/profile the industry in detail domestically and in

broad terms internationally; and

3. Identify key business environment signposts/trends

covering the period 1950 to 2010.

1.13 Presentation of the Study

The entire study has been presented in five chapters. In the

Chapter – I the nature, importance of specific objectives and

limitations of the study have been indicated.

Chapter – II deals with the review of the relevant research

studies connected with the objectives.

Chapter – III outlines the main features of the study area,

the method followed, nature and source of relevant data collected

and analytical tools employed in the study.

Chapter – IV is devoted to the analysis of data through a

variety of tables and discussions into which relevant details have

been compressed and summarized under appropriate heads

presented in the tables.

Chapter – V deals with the discussion of the results of the

study. It provides a brief summary of the whole study and also

suggests the policy implications from the findings of the study.V

1.14 Limitations of the Study

As the rationale for the paper is business strategy directions, the

analysis of the data is more focussed on general directional

changes that will impact on the sustainability and

- 20 -

competitiveness of the industry. The directional changes

identified in the data can be reality tested against the knowledge

and insight industry practitioners have on the state and

dynamics of their industry. Therefore, while not compromising

accuracy in any way, precision in data analysis is not considered

to be paramount in these circumstances. Rather, the objective is

to facilitate the adoption of thoughtful industry wide and firm

based business strategy, ensuring the appropriate adoption and

uses of technology and most importantly, the development of

competencies and skills within the industry at levels of firm

structure and size.

- 1 -

CHAPTER – II

REVIEW OF LITERATURE

- 21 -

CHAPTER – II

REVIEW OF LITERATURE

In this chapter an attempt is made to present the literature

pertaining to the research work relate to the present study. Since,

not much work has been one on the printing industry in India,

the study is undertaken, Studies conducted on the printing and

allied industries in general and Indian printing industry in

particular have been reviewed under the following sections.

2.1 Printing industry in Indian manufacturing

2.2 Industry economics

2.3 Customer, technology and future

2.1 Printing industry in Indian manufacturing

Indian printing industry has formed part of the study on

manufacturing industry since 1951. However it is considered in

combination with paper, paper products and printing as the

group had been classified. In this classification paper

manufacturing industry formed the core and paper products

manufacturing and printing industry took the shape of associate

industry. This classification is used to collect data with regard to

production and utilization of paper for forming part of the

manufacturing industry statistics. Not much of an organized

study had taken place or books are published on printing

industry. However, government had constituted committees

- 22 -

towards setting up of text book presses, which had prepared

reports for that purpose.

The industry groupings in the form of associations of

clusters had been in existence since about half a century in

different parts of India. These associations had conducted

workshops, meetings and other endeavours like exhibitions,

conferences etc., towards protecting the sustenance of the

industry. However all these had focused mainly on the

technological component of the industry. The economic and

business components were restricted towards making occasional

representations to government on taxes and duties. Also printers

had most of the time focused themselves as traders who quote,

wait for the response and execute, rather than viewing themselves

as industrialists. This also has to do with the fact that printing is

considered mainly as need based process for reproduction by any

available means than an industrial effort.

However, newspaper industry a segment of the printing

industry has always been ahead in organizing itself for their

protection and benefits. Still, there had not been an organized

study done in this area. Since the printing industry is divided into

various segments catering to a principal industries or as in house

printing units specializing in an obscure product almost no

systematic study has so for not been initiated for the industry as

whole. However, certain states where printing industry has its

major clusters in India had conducted studies focusing on solving

a particular problem or studied this industry as an associate of

other major industry.

- 23 -

There are books on printing industry in India, focusing

mainly on historical aspects of the industry and its development

or not so many books on printing as technology. It is a matter for

concern that only a few numbers of texts on printing technology

catering to the lower end of the trade are available.

The printing Industry was classified alongwith Paper and

paper products industry in 1962 Standard Industrial

Classification, with a revision in 1968. In 1970 it was made into a

three digit classification printing still clubbed with paper

industry. The National Industrial Classification 1987 grouped

Publishing, Printing and Related activities. The 1998

classification made printing as a separate entity in the Industrial

Classification. This had further been classified in 2004 fully

covering all the old and new printing and related activities.

As for the reasons explained above studies on printing

industry as an economic activity is not available. Also the first

scientific study on this industry had been done in 1985 by Hira

Kant Jha, under the title ‘Empirical study of printing presses in

Patna, Bihar’, as dissertation for his Ph. D. in Patna University,

1985). There was another study in Punjab focusing on the

employment and wages of the printing press employees of

Amritsar in 1955. However none of the above known studies had

approached the printing industry economics as a whole or as its

major component parts, so as to use for reference or review. Also

the author could not come across any other scientific study on

this subject topic.

2.2 Industry economics

Australian Printing Industry Report, 1998 , has studied the

printing Industry of Australia in 1998 and published a

- 24 -

comprehensive report covering all areas of the industry from raw

material, business processes to future prospects and foreign

competition. It also had outlined the industry specific initiatives

by the government.

Encyclopedia of American Industry, Standard & Poor’s

NetAdvantage (2002), gives a crisp outlook of the American

Publishing industry in the form of overview.

Naresh Khanna (2002) in his article in India Printer and

Publisher writes about the globalization of printing technology.

The Occupational Outlook Handbook 2002-03, published by

the Graphic Communications Council, USA, explains in detail the

employment and different occupations available in the industry.

Ramu Ramanathan’s, (2003) article titled ‘An Overview of

the Small Offset sector’, published in the Indian Printer &

Publisher has provided details on the small offset sector of the

printing industry in India.

The United States Census Bureau’s Economic Census Series

Reports 2002 gives statistical analysis of different segments of it

printing industry.

A Unique Printing Industry Resource Printing Industries

Association of Australia, 2005 details the Australia’s fourth

largest manufacturing industry employer and a major contributor

to the its economy - its printing industry – its current status. It

also outlines an ambitious plan for its future sustenance, growth

and globalisation.

An Overview of the Printing and Publishing Industry in the

US, Including Future Predictions to 2009, (2005) explains in

- 25 -

detail the state of printing industry in United States in all its

details. It also makes forecast of its future to ensure its

dominance in creative printing and leader of print production

innovation.

Colin Thompson (2006) in his article titled The Chinese

Printing Industry explains about the dynamics of the emerging

Chinese Printing Industry and its effect on the global printing

industry.

The KBA Report (2006), published by Koening & Baur AG,

(2006) Germany and Polygraph International Quarterly, Germany

have detailed their current status of technology and operational

outputs.

In addition reports generated by Indian Pulp and Paper

Technical Association, National Association of Printers &

Lithographers, USA, North American Graphic Arts Suppliers

Association, Paperboard Packaging Council, USA, Printing

Industries of America, Screen printing & Graphic Imaging

Association International, USA, Technical Association of the

Graphic Arts, USA, The All India Printing Ink Manufacturers

Association, Waterless Printing Association, USA, on different

topics on the printing industry economics and technology and

forecast for the future sourced as published literature and made

available online in the world wide web have been reviewed in

preparing this dissertation.

2.3 Customer, Technology and Future

Birkenshaw, John, (1992) in his lecture published in Ink &

Print, 1993 issue talks about the Future trends in printing, which

explain in detail the convergence of information technology,

- 26 -

knowledge management and printing industry in providing

customer a new composite service.

Printing for Profit 2000 published by the British Printing

Industries Federation in 1990s had outlined the future prospects

for the industry in United Kingdom.

Colin Thompson (2006) in his articles titled Graphical

Challenges for the Printing Industry outlines what the future has

in store for the printing industry in United Kingdom by taking the

world view.

Colin Thompson (2006) in his three part article titled

Challenges for the Printing Industry makes an in depth study of

the future of the printing industry and makes his forecasts.

- 1 -

CHAPTER – III

METHODOLOGY

- 27 -

CHAPTER – III

MEHODOLOGY

This chapter deals with the description of study area, the nature

and the sources of data collected, the various tools and

techniques employed in analysing data. These are presented

under the following heads.

3.1 Description of the study area

3.2 Nature and sources of data

3.3 Analytical tools and techniques employed

3.4 Definition of terms and concepts used.

3.1 Description of the Study Area

The printing industry forms part of the manufacturing industry

which is one of the major industrial sectors of the economy.

Indian printing industry is in the throws of an imminent change

which is flushed with opportunities of the known and challenges

of the unknown. These are the cumulative results of technology,

growing population, increasing literacy, opening up of the

economy, liberalisation, advent of the communication enabled

information technology based services and above all the overall

growth of the economy in particular the middle class population.

Indian GDP is growing at 7.5 to 8 % over the last two years

after a lull in the preceding three years. India’s index of industrial

production has risen from 7.9 in 1950-51 to 204.8 in 2004-05.

- 28 -

During the same period the population has grown from 359

million to 1090 million and the literacy rate from 18.33% to

65.38%. The paper, paper products and printing industry with a

weight of 26.52 has grown from 108.3 in 1981-81 to 230.7 in

2004-05 (Base: 1980-81 =100).

The earliest printing presses in India were located along the

west coast line of the peninsula namely Goa, Cochin, Pudikoil,

Vypicottah and Ambadalakkad. Also Tranquebor, Madras, Fort

William, Calcutta and Serampore, along the East Coast in the

east coast had the first of the printing presses in India. All these

happened between 1579 AD to 1795 AD. In 1817, Bombay had its

first printing press. Subsequently it led the phase of the vigorous

growth of early Indian printing. Since then printing industry has

gone through several phases in technology, constitution and

functioning. It organises itself in clusters for development all

through the country, functioning basically as a supporting service

industry.

3.2 Nature and sources of data

The secondary data needed for the study has been obtained from

the Cental Statitical Organisation, Government of India’s Annual

Survey of Industry and Reserve Bank of India’s Annual report and

Government of India’s Economic Survey.

The secondary data also has been sourced from

innumerable industry published articles. The author also has

used his two decade long experience in the industry alongwith the

inputs from the experts of the industry received through

interaction.

- 29 -

3.3 Analytical Tools and Techniques Employed

3.3.1 Ratio Analysis for the Printing Industries

The definitions for these ratios are generally taken from Analysing

Company Accounts by Martin Roth, Wright Books, 1995, and

Financial Accounting by Carnegie, Jones, Norris, Wigg, and

Williams, McGraw-Hill, 1999.

Caveats on the Use of Ratios

Financial ratios are indicators only. They do not present a

complete picture of the business or industry. Other important

factors may be determinant on performance and not captured by

financial ratios. A ratio is a comparison of two figures, a

numerator and a denominator. At times it may be difficult to

determine whether, in comparing ratios, the differences are due to

the numerator or the denominator or both. Comparison between

companies can be difficult due to the adoption of different

valuation methods. Ratios are interconnected and should not be

treated in isolation.

3.3.2 Net Profit Margin and Profit Margin

The Profit Margin ratio is an indicator for corporate efficiency.

More explicitly it reflects the return on sales from the operations

of the organisation. The ratio is given by:

Profit Margin (%) = (EBIT/ Sales) x 100.

EBIT = Earnings Before Interest and Tax

3.3.3 Return on Assets

This ratio is also known as return on investment. It measures the

ability to generate profits from assets and is defined as operating

profit before tax as a percentage of the total book value of assets.

(ABS 8225.0) The ratio is given by:

Return on assets (%) = (EBIT/ Assets) x 100

- 30 -

3.3.4 Financial Stability

Financial Stability ratios focus on assessing the amount of risk

for an entity. They fall into two categories:

1. Measures of short term liquidity:

Current Ratio

2. Measures of financial structure and long term solvency:

Debt to Equity Ratio

Interest Cover

3.3.4.1 Current Ratio

Can the industry pay its bills? - Keeping liquidity as low as

possible while ensuring that short term obligations are met. That

is the number of times current assets cover current liabilities, i.e.

the value of current assets divided by the value of current

liabilities. This liquidity measure indicates ability to meet

immediate financial obligations from current assets. The

convention usually adopted is that there should be a two to one

difference between current assets and current liabilities.

The current ratio is given by:

Current ratio = Current assets/Current liabilities

"A strong cash flow, with a high stock turnover rate and

speedy collection of debts, may mean that a company can operate

safely with a current ratio nearer to one or lower. …. a company’s

working capital - surplus of current assets over current liabilities-

should be sufficient to pay bills and give credit as necessary."

It may be useful to consider the proportion of cash

represented in current assets - cash to liabilities ratio. Have to

watch that the enterprise is not over-burdened with debt. Profits

will not mean much if it is. But debt is also a path for growth

- 31 -

especially if interest rates are low and the economy is growing. If

industry is competing in a stable predictable environment then

liquidity can be low.

3.3.4.2 Debt to equity ratio

This measures debt exposure and generally the higher the ratio,

the more likely it is that there may be difficult to pay debts;

especially if interest rates rise. There is no ‘safe’ figure though the

practice seems to be that if the ratio does not exceed 100%, there

should be no difficulty. Too much equity can mean that

management is not taking advantage of the leverage associated

with long term debt. Outside financing will become more

expensive as the debt to equity ratio increases. Therefore the

degree of leverage has to be considered in light of profitability and

industry volatility.

The ratio is given by:

Debt to Equity ratio = Total Debt/ Equity*

* Shareholder’s or Owner’s Equity depending upon whether the

company is public or private

3.3.4.3 Interest Cover

The ratio reflects the relationship between interest payments and

profits to show if there is a good margin of profit to ensure against

downturn or sharp interest rate rises. That is the number of times

over that business can meet their interest expenses from their

earnings before interest, i.e., the value of earnings before interest

and tax divided by the value of interest expenses (ABS 8225.0).

The ratio is given by:

Interest Cover = EBIT/ Net interest payments

The rule of thumb is that enterprises should be able to cover

interest payments at least three times.

- 32 -

3.3.4.4 Macro Economic Indicators for the Indian Economy

Information on predictions of the main macroeconomic indicators

into the next decade is given below. They are from the latest

report published by one of the major economic modeling houses,

Econtech. All the figures for 1998-99 are historical, and

subsequent figures are forecasts.

Essentially, in the general medium to longer term

macroeconomic environment in which the Printing Industries will

be operating, GDP is predicted to be growing at a rate of about

2.5-3%. The analysis suggests that if the economy generally is

growing then the printing industries will also be growing. It also

suggests that for profitability to increase there will need to be a

shift downstream in the services offered by printers. They will

need to manage their cost structures better particularly the

capacity utilisation.

- 1 -

CHAPTER – IV

RESULTS

- 33 -

CHAPTER – IV

RESULTS

In consistence with the objectives of the study the necessary

data collected from different sources were and interpreted. The

results of such analysis are presented in this chapter under the

following Heads.

4.1 Defining the Industry

4.2 Data Sources and Analytical Precision

4.3 Printing Industry in India

4.4 Key External Drivers

4.5 Industry Parameters for Growth

4.6 Future Operating Environment

4.7 Choices for Future

4.1 Defining the Industry

For the purposes of this study, which is to signpost trends

in the industry using available Central Statistical Organisation

(CSO) data, the core of the industry is defined according to the

Five Digit - National Informatic Centre 2004 classification and

presented according to the Three Digit National Informatic Centre

1998 classifiction of India. It includes the Total Printing,

Publishing and Recorded Media (NIC 22 series), the Total Paper

and Paper Product Manufacturing (NIC21series), Total Printing

and Writing Inks and Photographic Films (NIC 24 series) and

- 34 -

Total Printing, Paper making and Packaging Machinery

Manufacture (NIC 29 series). The paper focuses mainly on

Printing Industry and information from the other related

industries are used for defining the industry in focus.

Table 4.1: NIC 2004 5 Digit Industry Classification, Division 22

Group Class Sub

Class

Description

221 Publishing [This group includes publishing

whether or not connected with printing.

Publishing involves financial, technical,

artistic, legal and marketing activities,

among others but not predominantly]

2211 22110 Publishing of books, brochures, musical

books and other publications.

2212 Publishing of newspapers, journals and

periodicals [includes periodicals of

technical or general contents, trade

journals, comics etc.]

22121 Publishing of newspapers.

22122 Publishing of periodicals and journals

2213 22130 Publishing of recorded media [includes

publishing of records and other recorded

audio media, publishing of sheet music etc]

2219 22190 Other publishing [includes publishing of

photos and postcards, greeting cards, time-

tables, forms, posters or other printed

matters.]

222 Printing and service activities related to

printing

- 35 -

2221 Printing [Includes printing of newspapers,

magazines, periodicals, journals and other

material for others on a fee or contract

basis]

22211 Printing but not publishing of newspapers

22212 Printing but not publishing of periodicals,

books, journals, directories, atlases, maps

and sheet music, schedules and pamphlets

22213 Printing of bank notes, currency notes

22219 Printing and allied activities like screen

printing other then textile, n.e.c.

2222 Service activities related to printing

22221 Engraving, etching and block making etc.

22222 Book binding on account of others

22229 Other service activities relating to printing

n.e.c

223 2230 22300 Reproduction of recorded media [This class

includes reproduction of records, audio,

video and computer tapes from master

copies, reproduction of floppy, hard or

compact disks, reproduction of non-

customised software and film duplicating]

- 36 -

Table 4.2: NIC 2004 5 Digit Paper Industry Classification

21011 Pulp, manufacturing

21012 Manufacture of paper

21012 Manufacturing of writing paper

21012 Printing paper, manufacturing

21013 Paper, newsprint, manufacturing

21014 Packaging paper, manufacturing

21017 Manufacturing of computer stationery

21019 Manufacturing of composite paper

21019 Paper board n.e.c., manufacturing

21021 Paper bags, manufacturing

21024 Paper board (corrugated), manufacturing

21091 Paper cones, manufacturing

21091 Paper loops, manufacturing

21092 Paper cups, manufacturing

21092 Paper plates, manufacturing

21092 Paper saucers, manufacturing

21094 Pulp dolls, manufacturing

21095 Manufacture of papier mache articles

21098 Manufacturing of stationery items

Table 4.3: NIC 2004 5 Digit Printing Ink and Printing

Chemical Industry Classification

24223 Printing inks, manufacturing

24294 Manufacturing of photographic films

24294 Manufacturing of photographic plates

24299 Manufacturing of writing or drawing ink

- 37 -

Table 4.4: NIC 2004 5 Digit Printing and Allied Machine

Manufacturing Industry Classification

29195 Manufacturing of packing and wrapping machinery

29195 Packing and wrapping machinery, manufacturing

29293 Manufacturing of machinery for paper board industry

29293 Manufacturing of machinery for paper industry

29293 Manufacturing of machinery for pulp industry

29294 Manufacture of printing machinery

29294 Manufacturing of composing machines

29294 Manufacturing of machines for photo-type setting

29294 Manufacturing of machines for production of plates

29294 Screen presses, manufacturing

29294 Screen printers, manufacturing

29294 Type-founding machinery, manufacturing

29294 Type-setting machinery, manufacturing

This definition of the industry does not include upstream

activities such as logging, ink manufacture, plastic bag and film

manufacture, nor does it include printing activity classified under

NIC 2004 codes for in-house printing such as advertising

services, and commercial art and display services. In this paper,

the definition of the industry used to describe what the industry

has been and is now, is that of traditional boundaries based on

product and process.

An alternative approach to defining the industry which

arguably recognises contemporary shifts and changes is the

following: "An industry is made up of all those firms that in the

mind of the customer, at a specific moment in time, compete for

- 38 -

satisfying the customer’s need in return for some of the

customer’s funds." The use of this definition particularly in the

context of industry decision making will help to avoid surprises in

the form of competition coming from outside the traditional

printing industry.

It should be remembered therefore that the industry as

defined in this study represents an underestimate of the total

printing activity in the economy. However, in terms of the number

of firms, employment and turnover in the sector, the Printing,

Publishing and Recorded Media group is by far the larger

contributor to activity in the industry.

4.2 Data Sources and Analytical Precision

The data sources used to construct this industry profile are not

exhaustive and include Annual Survey of Industries, 2002-03,

Volume-I and Annual Survey of Industries, 2003-04, Volume-I, by

Central Statistical Organisation; National Accounts Statistics,

Chapter 1, Development of National Accounts Statistics, NAS –

Sources & Methods 1989; Manufacturing Sector in India:

Competitiveness and Other Issues, Federation of Indian

Chambers of Commerce & Industry, January 2005; Economic

Census, 1998, All India Report, Government of India , Ministry of

Statistics & Programme Implementation, Central Statistical

Organisation, New Delhi; Economic Survey 2005-2006, website:

http:/indiabudget.nic.in and Trends In India’s Foreign Trade,

website: http://commerce.nic.in/annual2004-05/englishhtml/content.htm.

These data are not readily comparable due to their inherent

difference in their period of coverage.

They have been used as indicative source of trends of the

printing industries by rapid technological change and turbulent

- 39 -

economic conditions at home and abroad. The general directions

that emerge from the analysis will form the springboard for

setting out a strategy for navigating through possible futures for

the industry over the next 5-10 years in rapidly changing national

and international environments.


Table 4.5: Index of industrial production

Year General Index

% Year on Year

Paper, paper products & printing

% Year on Year

Base Year

1981-82 109.3 - 108.3 - 1980-81

=100) 1990-91 212.6 94.5 198.0 82.8

1994-95 108.4 - 108.6 -

1993-94

=100)

1995-96 122.3 12.8 125.5 15.6

1996-97 130.8 7.0 136.9 9.1

1997-98 139.5 6.7 146.4 6.9

1998-99 145.2 4.1 169.8 16.0

1999-00 154.9 6.7 180.5 6.3

2000-01 162.6 5.0 164.0 9.1

2001-02 167.0 2.7 169.0 3.0

2003-03 176.6 5.7 180.5 6.8

2003-04 189.0 7.0 208.7 15.6

Source: Annual Survey of Industries 2003-04, Central Statistical Organisation

- 40 -

Printing and Publishing industry stands at eighth position

for the period between 1980-81 to 1990-91 at 198.0 whereas the

General Index stands at 212.6 and percentage of change from the

base is 82.8 and 94.5 respectively. The Indian printing industry

has outperformed the general manufacturing industry index all

through the nineties. This performance in the nineties though

fluctuating is due to several factors, one of which is easy access

to cheap international raw materials due to liberalization. The

growth during the previous decade has fluctuated from 3.0 to

16.0 and except for 1999-00, where the year on year index was

less than the General Index; it was growing at 22% more than the

General index. The industry has grown exceptionally well during

1998 -99 and 2003-04 at more than double than the General

Index at by 290% and 193% respectively. The growth has come

down to 3% due to General industry slowdown in 2001-02.

Performance for the year 2000-01 which has seen a negative

growth rate of -21 % in volume for the paper and paper board

industry.

Table 4.6: Production of Paper and Board Industries 1950-51 to 2004-05

Industry Unit 1950-51

1960-61

1970-71

1980-81

1990-91

2000-01

Paper & paper board

'000 tons

116.0 349.0 755.0 1,149.0 2,088.0 3,090.0

Year on Year %

201 116 52 82 43


- 41 -

Table 4.7: Production of Paper and Board Industries 1950-51 to 2004-05


1992-93

1993-94

1994-95

1995-96

1996-97

1997-98

Paper &

paper board

'000 tons

2,122.0 2,533.0 2,734.0 2,554.0 2,710.0 2,769.0 2,922.0

Year on Year %

2 19 8 -7 6 2 5


1999-00

2000-01

2001-02

2002-03

2003-04

2004-05*

Paper & paper board

'000 tons

3,114 3,459 3,090 3,176.0 3,412 3,684.0 3,848

Year on Year %

6 10 -12 3 7 7 4

Source: Annual Survey of Industries 2003-04, Central Statistical Organisation; Economic Survey 2005-2006, * Provisional, Website: http:/indiabudget.nic.in/annual 2004-05/englishhtml

The paper and paper board industry which provides about

80% of the substrate for printing industry as raw material for

printing and conversion. It has grown at an average speed of 99%

a decade from 1950-51 to 2000-01. However the year on year

growth rate has averaged at 4% between 1995-96 to 2004-05 in

volume

- 42 -

Table 4.8: Principal Characterstics by Industry Group for

Publishing, Printing and Related Activities

(Value figures in Rs. Lakh, Others in Number)

PUBLISHING, PRINTING AND RELATED ACTIVITIES

2002-03 2003-04

22 All % 22 All %

Factories 3046 127957 2.38 3007 129074 2.33

Fixed Capital 383132 44475938 0.86 402260 47333140 0.85 Productive Capital 574753 54488048 1.05 573092 59256189 0.97

Invested Capital 489965 63747308 0.77 531049 67959786 0.78

Workers 76954 6161493 1.25 70634 6086908 1.16 Total Persons Engaged 120592 7935948 1.52 112974 7870081 1.44

Wages to Workers 45130 2968905 1.52 44291 3047777 1.45 Total Emoluments 114255 5515801 2.07 115299 5833675 1.98

Total input 740894 91618549 0.81 752581 103962329 0.72

Gross Output 106544 4203558 2.53 1104433 128740055 0.86

Depreciation 50094 4203558 1.19 50975 4482349 1.14

Net Value Added 274459 17234002 1.59 300878 20295377 1.48

Rent Paid 10769 379355 2.84 10332 416084 2.48

Interest Paid 28054 3835182 0.73 30591 3397229 0.90

Rank 18 18


The industry comprises of about 3,007 factories, which is

2.33 % of the total number of factories in India in 2003-04. It

employs 70,634 workers or 1.16 % of total workforce. It engages

1,12,974 people, which is 1.44% of the total persons engaged in

- 43 -

industrial activities. With Rs. 4,02,260 lakhs of invested capital

this industry accounts 0.85% of the total capital invested. This

industry pays 1.98 of the total emoluments paid by the industry.

While it accounts for 0.76% of the total industrial inputs, it

accounts for the 0.86% of total industrial output giving a higher

value addition. Its Net Value Addition is 3,00,878 which is 1.48%

of the total Net Value Addition ranking 18 in a list of 26

industries.

Table 4.9: Estimate of some important characteristics by 3

digit of NIC'98 for the year 2003-2004 Comparison of All

India Industries and NIC 22

(Value figures in Rs. Lakh, Others in Number)

2003-4 2002-3

Characteristics 22 All Percent 22 All Percent

Number Of Factories 2393 129074 1.85 2428 127957 1.90

Fixed Capital 156475 47333140 0.33 156704 44475938 0.35

Working Capital 64773 11923049 0.54 79307 10012110 0.79

Invested Capital 211113 67959786 0.31 206780 63747308 0.32

Outstanding Loans 106589 28977564 0.37 96259 26339233 0.37

Number of Workers 44535 6086908 0.73 52075 6161493 0.85

Total Persons Engaged 59809 7870081 0.76 69513 7935948 0.88

Wages to Workers 20728 3047777 0.68 23521 2968905 0.79

Total Emolumnets 36276 5833675 0.62 43838 5515801 0.79

Prov. Fund and Other Welfare 5689 1411759 0.40 7100 1318412 0.54

Fuels Consumed 19383 9198216 0.21 13260 6657582 0.20

- 44 -

Materials Consumed 202224 77501526 0.26 234037 70077245 0.33

Total Inputs 289932 103962329 0.28 321179 91618549 0.35

Products & By-products 285247 113574250 0.25 316890 100128587 0.32

Value of Output 393661 128740055 0.31 437649 113056111 0.39

Depreciation 20131 4482349 0.45 20665 4203558 0.49

Net Value Added 83598 20295377 0.41 95805 17234004 0.56

Rent Paid 2458 416084 0.59 3564 379356 0.94

Interest Paid 14443 3397229 0.43 12430 3835182 0.32

Rent Received 984 106548 0.92 954 83324 1.14

Interest Received 576 260947 0.22 1128 260313 0.43

Net Income 66696 16482065 0.40 79810 13019466 0.61

Net Fixed Capital Formation 18550 1271031 1.46 17330 541866 3.20

Gross Fixed Capital Formation 38681 5753380 0.67 37995 4745424 0.80

Addition in Stock of

(a) Materials,Fuels etc. 5260 1318920 0.40 6954 1087077 0.64

(b) Semi-Finished Goods 1041 130864 0.80 492 229669 0.21

(c) Finished Goods 777 215599 0.36 2494 335468 0.74

(d) Total 7078 1665383 0.43 9940 1652214 0.60

Gross Capital Formation 45759 7418762 0.62 47935 6397638 0.75

Profits 24732 9236632 0.27 28872 6185254 0.47


- 45 -

The industry has grown about 80% during the last decade,

with its overall contribution to the Indian industry in the form of

Net Value Added is about half percent.

India’s printing and related industries are predominantly

small to medium sized firms with average number of employees of

around ten per establishment. These small and medium

establishments are not reflected in this Annual Survey of

Industries’ data.

4.3.1 Products and Services

The industry undertakes a wide range of activities including:

1. The manufacture of paper stationery;

2. Commercial and job printing;

3. The provision of services to the industry;

4. Publishing and printing of newspapers, books, magazines and

periodicals and

5. The manufacture of publishing audio, video and data media.

The industry traditionally was a provider of printed material,

however in recent times a new range of services are provided as

well. These include those listed below. The shift towards services

emphasises the dramatic shift of opportunities towards

downstream servicing.

4.3.1.1 Print industry services currently provided to

customers:

In addition to the traditional forms of printing, significant

opportunities are opening up as a result of the shift from the

marketplace to the marketspace. The marketplace refers to the

physical world of resources that customers can see, feel and

touch. The marketspace is the electronic and information based

- 46 -

world offering different types of information and communication

that satisfy different types of customer needs. The provision of

information types rather than products to meet customers’

information needs has become possible with the capability to

‘unbundle’ information from its physical carrier. Only those types

of information that the customer wants, for example news,

entertainment, reference, educational, promotional, need be

provided.

The need for constant innovation and responses to

fundamental changes being driven by new carriers of information

such as the internet and the emerging internet television will

require the printing industries to rethink many fundamentals in

their industry if they are to capture a share of the new

opportunities. Some of it products and functions are

Newspaper and magazines printing Quick print

Commercial print Direct mail

Forms Stationery

Packaging Services to publishers

Book printing Security printers

Point of sale Pre-press Digital printers

Data management Services Bureaus

Post press and fulfilment Label and tag

Finishing Large format plotters

Display/ Point of Presentation

4.3.2 Broad Industry Demographics and Performance

This section examines in the following broad terms:

1. The contribution of the printing industry to the economy;

2. The geographic distribution and regional significance;

- 47 -

3. The domestic and international trade; and

4. Industry performance indicators.

4.3.2.1 Sources of Data and Limitations

Annual Survey of Industries data sources are used. The data

provided do not cover unregistered, smaller and non-mechanized

units. Nevertheless, taken as a whole, the information is sufficient

to provide indicators of trends significant to the industry. The

trends identified in this section were tested and verified.

4.3.2.2 Domestic Industry Activity

An estimate of industry activity has been imputed from Annual

Survey of Industries data. Economic activity in the print,

publishing and recorded media industries continues to increase.

This may be attributed to the growth of service industries that are

typically large consumers of printed material. It is clear the

printing industries have benefited from the expansion that has

occurred in the services industries, which generally are larger

consumers of print than the manufacturing industries.

Table 4.10: Comparison of Performance of NIC 22 with GDP

and Manufacturing Industry

Year GDP Manufacturing NIC 22

Rs.

Crore

Year

on

Year

%

Rs. In

lakhs

Year

on

Year

%

Rs. In

lakhs

Year on

Year %

AS %

of GDP

1999-00 1792292 6.10 89793835 14.57 239584 0.1337

2000-01 1870387 4.36 92690185 3.23 228041 -4.82 0.1219

2001-02 1978055 6.00 96245663 3.84 216821 -4.92 0.1096

2002-03 2052586 4.00 113056111 17.47 274459 26.58 0.1337

- 48 -

2003-04 2226041 8.00 128740055 13.87 300878 9.63 0.1352

Source: Annual Survey of Industries, Reserve Bank of India Annual Report 2004-05

In rupee terms turnover for NIC 22 increased by around

9.63% during 2003-04. All manufacturing industry turnover

during the same period has increased by 13.87%. The level of

industry sales is not in line with that of Indian manufacturing

industry. However, in terms of percentage of GDP, NIC 22 has

remained constant over the past five years. This is in line with

what is happening to manufacturing generally, as the growth in

services takes an increasing share of GDP.

4.3.2.3 Industry Value Addition

Value added is defined as turnover, plus closing inventories less

opening inventories less intermediate input expenses. The data

shows that value addition in the industry is declining. Over the

past decade the industry had faced with circumstances where it

has chosen to provide more products at ever increasing speed.

Under these conditions the industry has not been generating

sufficient value. This trend is expected to slow and reverse as

industry moves to provide higher value solutions to customers.

4.3.2.4 Geographical Distribution and Regional Significance

For NIC 22, the large medium print factories of governments and

private are located in state capitals and registered and

unregistered private and commercial establishments are located

as clusters in Mumbai, Sivakasi, Chennai, Kolakata, New Delhi,

Hyderabad and Noida. However many unregistered

establishments exist in district and taluk levels catering to

different segments of markets at varying degrees. However, the

data on these establishments are almost nil or obscurant.

- 49 -

Sivakasi, Mumbai, Chennai, Kolakata and New Delhi and

are above the national average number of printing establishment.

Sivakasi a major center for printing in India accounts for 60% of

India’s total offset Printing Solutions with about 10 large

printing units, 200 medium scale printing units and 390 small

scale printing units with a total turnover of 1,200 crores

employing about 2,50,000 people directly and indirectly. The

number of presses are growing year by year; more than 130 have

reached 50 years of service in Printing and Publishing. This

development of cluster is normally associated with other client

industry, for example with Safety Match and Fireworks producers

as in the case of Sivakasi. Since printing is a supporting industry

it takes root and grows alongwith other major industries fulfilling

their needs.

These statistics demonstrate the importance of this industry

for regional India. The printing industry follows the location

patterns of other industries. There are opportunities for the

printing industry to transform itself into a significant contributor

to regional India by growing the scope of its activities regionally in

activities that are not distance dependent.

4.3.2.5 Trade Trends

The analysis shows that the Indian printing industry is, to a large

measure, a domestically based industry. The industry’s

contribution to exports is negligible and it does not find a worthy

place in trade statistics though it imports more than 80% of the

machinery requirements. The overall industry trend is - imports

significantly exceed exports. The deficit is made up of a

component from each of the NIC 22 sectors, although there are

some trade surpluses in particular areas such as corrugated

- 50 -

paperboard container manufacturing and printing. Developing

markets is an area for industry focus and could leverage the

earnings from the successes of the emerging and increasing

export activity. Whether or not the Indian printing industry

remains domestically focused or develops an export orientation,

the industry will be affected increasingly by global forces. Of

principal concern to the industry’s future are:

1. The impact of globalisation

2. The rapid pace of technological change

3. The changing cultural trends

4. The growing importance of environmental concerns both as

social and biophysical concerns.

4.3.2.6 Profitability

Ratio analysis is a commonly accepted technique for

characterising financial performance. In the Annual Survey of

Industries published data for the India industries profitability of

industries are given. Profitability is an essential indicator of a

successful business or successful industry.

4.3.2.6.1 Profit Margin

The financial performance of the industry, particularly the

industry profitability is a cause for concern and warrants

consideration here. The Profit Margin represents the return on

sales from an industry’s operation before tax and

interest/gearing.

TABLE 4.11: Profitability in the Printing Industries Is

Declining

Year Manufacturing Year on Year %

NIC 22 Year on Year %

1998-99 4730623 -13.13 58427

- 51 -

1999-00 4733475 0.06 107206 83.49

2000-01 3569880 -24.58 65408 -38.99

2001-02 3488385 -2.28 41634 -36.35

2002-03 6185254 77.31 28872 -30.65

2003-04 9236632 49.33 24732 -14.34


NIC 22’s Profit has been declining markedly over the six-year

period. Total Manufacturing has also experienced a decline in

Profit Margin over the six-year period in a diminishing way. The

Profit for Total Industry also has been fluctuating. Issues that

may be a cause of decline and hence related to corporate failure

and corporate recovery include: poor management; inadequate

financial control; competitive pressure; high cost structure; not

identifying and responding to changes in the business

environment; changing market demand; adverse movement in

commodity prices; and lack of marketing effort. NIC 22’s Profit

Margin has fallen beneath that of Total Industry and Total

Manufacturing. The data suggest that the NIC 22 is competing on

price and volume and less so on services and product

differentiation. NIC 22’s Profit Margin trend bears out the

proposition that the industry needs to give more attention to the

development of strategies for high value differentiated products

and services and close attention to return on assets employed.

4.3.2.6.2 Return on Assets

This ratio is also known as return on investment. It measures the

amount of profits generated per rupee worth of capital.

- 52 -

Table 4.12: Return on Fixed Capital for the Industry is Declining

(Value in Rs. Lakhs.) Year Manufac-

Turing Fixed Capital

Profits Return on Fixed Capital%

NIC 22 Fixed

Capital

Profits Return on Fixed Capital%

1998-99 39115145 4730623 12.09 384802 58427 15.18

1999-00 40186473 4733475 11.78 376859 107206 28.45

2000-01 39960422 3569880 8.93 363506 65408 17.99

2001-02 43196013 3488385 8.08 340358 41634 12.23

2002-03 44475938 6185254 13.91 156704 28872 18.42

2003-04 47333140 9236632 19.51 156475 24732 15.81


Share of the manufacturing sector in India’s GDP has been

fluctuating between 8% to 19% from 1998-99 to 2003-04. NIC 22

ratio is showing a significant decline. However it has not fallen

below that of Total Manufacturing. The data show that profits are

decreasing and expenditure on assets is increasing. This is cause

for concern as no industry can maintain such a decline in

profitability on a long-term basis. Earnings before interest and

tax are decreasing, sales are increasing, and total assets are

increasing rapidly. Together this means that companies under

NIC 22 are making less profit, getting smaller returns from their

asset base, and are slowly becoming less able to meet their

interest payments. In the case where investment strategies are

sound, return on assets and profit margin should be trending up.

However, the analysis presented here indicates they are not. The

future industry strategy must assist firms in decisions about

where to invest for future growth. Investment issues to be

addressed include:

- 53 -

1. Is investment in capital equipment sufficient to guarantee

growth?

2. How is the industry handling investment in intellectual

property, customer share growth etc?

Calculation of the relevant ratios for the printing industry in

India shows that it is generating too few sales for the asset base it

sustains. While sales are increasing, the cost of production is also

increasing, leaving the earnings before interest and tax relatively

unchanged. Financial figures that enable the calculation of

additional ratios should be sought to enable improved business

planning. These ratios may include accounts receivable turnover,

accounts payable turnover, and cash flow to sales.

4.3.2.6.3 Current Ratio

The liquidity measure indicates the ability to meet immediate

financial obligations from assets.

TABLE 4.13: Current Ratio for the Industry is Declining

(Value in Rs. Lakhs.) Year NIC 22

Current Assets

NIC 22 Current Liability

Current Ratio

1998-99 160913 185768 0.87

1999-00 390860 162738 2.40

2000-01 71582 76170 0.94

2001-02 45510 71741 0.63

2002-03 90375 86889 1.04

2003-04 71851 77136 0.93


The current ratio for the industry does not present a healthy

picture. Optimal current ratio should be a two to one difference

- 54 -

between current assets and current liabilities. The current ratio

considered for the period of study is less than half of the optimum

required. This is not only inadequate but it clearly states the

inability of the printing industry to meet the current liabilities.

4.3.2.6.4 Interest Cover

This ratio tells the relationship between interest payments and

profits to show if there is a good margin of profit to ensure against

downturn or sharp interest rate rises..

TABLE 4.14: Current Ratio for the Industry is Declining

(Value in Rs. Lakhs.) Year NIC 22

Profit NIC 22

Net Interest Payments

Interest Cover

1998-99 5847 24620 2.37

1999-00 107206 28650 3.74

2000-01 65408 13718 4.77

2001-02 41634 13678 3.04

2002-03 28872 12430 2.32

2003-04 24372 14443 1.69


All through the years in the interest cover of the printing

industry in India is arranging from inadequate to grossly

inadequate in a highly fluctuating manner. In normal conditions

the industry is expected to cover interest payments atleast three

times. The trend as seen from the table is telling a highly varying

and unpredictable business scenario, which is not healthy.

4.3.3 Current Operating Environment

4.3.3.1 Capacity Utilisation

- 55 -

Indian printers perceive themselves as traditionally strong

adopters of new technological innovations, and they pride

themselves on being at the forefront in the acquisition of

technology. However, this same strong tradition and culture may

be contributing to an over-investment in equipment and under-

utilisation of capacity. The reported industry average of 46.4

hours translates into an effective capacity utilisation rate of

41.4%. The average weekly chargeable machine hours are 46.4

hours. The average is derived from average chargeable machine

hours for small companies of 35.4 hours, medium companies

45.9 hours, and large companies 67.6 hours.

4.3.3.2 Technology Analysis

Since the 1950s, the printing industry has undergone a series of

rapid technological changes that radically altered and rationalised

printing production processes. For many years hot metal typeset

formed the basis of the printing process. Computer typeset was

introduced into the industry in the 1970s, taking over from hot

metal typeset by the 1980s. In the late 1990s technology rapidly

shifted to what has become known as computer to plate printing

or digital printing.

The growth in automation in the printing industries

accelerated further during the late 90s. A new paradigm is now

emerging. Customers are demanding high quality high value

added products. In addition each paradigm shift in technology

has been accompanied by what is known as disintermediation,

the process by which there is substantial reduction in the

number of stages of production.

- 56 -

4.3.3.3 What next?

The increasing imperative for businesses to manage knowledge

for competitiveness will provide an opportunity for printers to

assist the knowledge management process by positioning

themselves as enablers of ‘knowledgement’ where they advise

customers on effective and efficient approaches to meet needs for

presenting, organising and deriving value from creative content,

information and data. The future business operating environment

will be driven by three key external drivers – technological

change, globalisation, and further culture change especially in

consumer preferences.

4.3.3.4 Government Policy

Higher tariffs on import of machines and important raw materials

are a major detrimental factor for the growth of the industry.

Government has allowed Foreign Direct Investment in newspaper

industry without controlling stake. ‘Inspector Raj’ is prevailing

and the announcing of new initiatives for self-regulatory checks

and self-certification measures by entrepreneurs are happening

slowly. A new bill for encouraging Contract labor in all areas even

while protecting the social security payments and minimum

wages is being introduced. Small scale sector opening up is

delayed. Indirect taxes on manufactured goods are high when

compared to international benchmarks.

4.4 Key External Drivers

4.4.1 Change in Value Chain/Business Model

The printing industries will become an ever-increasing part of the

information industries and an enabler of the knowledge-based

economies. Traditional boundaries that existed between

industries have now become markedly blurred. This phenomenon

- 57 -

has become known as ‘convergence’ or more specifically ‘digital

convergence’.

As a result of the emergence of new technologies,

continuous change has occurred with companies merging, re-

organising, and re-focusing. A high level of awareness of

production costs has also resulted in higher demand for output at

lower costs, which is normal in industries reaching maturity.

Hence the need to shift to new generation products and services

based on staying close to and understanding the changing needs

of the industries’ customers.

Sheet fed and web presses have dramatically increased

speed of production and automatic make-ready systems have cut

times to those not thought possible even 10 years ago. The advent

of desk-top publishing has opened new horizons and expanded

rapidly from the traditional prepress companies to printers

reclaiming pre-press and new styles of operations. New

production approaches in digital cameras, computer to plate,

digital proof and digital print are now industry standards. Data

communication from site to site, and continent to continent is

now well established.

4.4.2 Trends in Technology Niches

4.4.2.1 Print-on-Demand

One of the most significant new niches to emerge as a result of

technological innovation is Print-on-Demand (POD). Personalised

and variable printing is an emerging market niche fuelled by the

digital colour printing revolution. With these technologies,

printers are now able to offer customers high levels of

personalisation. They will be driven by what has become known

- 58 -

as ‘push/pull’ models of publishing. ‘Push’ publishing is driven

by customer profile and preference information held on

databases. ‘Pull’ publishing operates on the basis of customers

requesting products sent to them or products that are

personalized according to customer’s preferences or

requirements.

4.4.2.2 Quick Printing (QP)

QP is primarily a business-to-business service to small and

medium firms. It capitalises on the trend to towards electronically

generated projects by customers who then seek print services.

4.4.2.3 Sheetfed Lithography

Technological innovation will also see many significant

developments in lithography in the coming years. Commentators

believe lithography will lose out ground to digital printing in the

short-run colour market over the next five years; particularly

where customers desire variable printing. Nonetheless, the view

seems to be that lithography will remain as the most economically

significant image transfer process into the 21st century.

4.4.2.4 Web Offset

Web offset is seeing many of the sheetfed and newsprint features

being adapted to it. The main thrust is to one-stop-shop or totally

closed loop systems. These printing systems will, in future, follow

the trend away from requiring fewer skilled press operators to

higher electronic systems management and maintenance.

4.4.2.5 Flexographic Printing

There is considerable scope for technological innovation in

flexographic printing over the next five years or so. The main

- 59 -

issues are concerned with achieving consistency and

predictability of print on any substrate.

4.4.2.6 Gravure

In Gravure, the trend continues to be towards bigger, better,

faster web widths of nearly four metres are now available and

press speeds of 3000 lfpm are imminent. Handling issues

however, are areas where further improvement may be possible in

the next few years.

4.4.2.7 Newspaper Printing

Technology is moving towards keyless inking, single fluid inking

and shaftless super high speed presses.

4.4.3 Trends in Market Segments

The effect of the various combinations for individual firms is

shown either as one of, or a combination of the following:

1. Efficiency gains sought through new equipment and

improved processes. ‘Do what you do know better- more

efficiently, in the marketplace.

2. Market expansion, through developing new markets, in the

market space, where trends in consumer demand show

opportunities for high value growth.

For example, the applications of holography technology are

currently expanding opportunities in the security print market. In

the short run however, applications of holography are not likely to

generate production efficiency gains, as economies of scale will

not yet be established. In contrast, newspaper printers are seeing

gains in efficiency from utilising offset web printers in existing

- 60 -

markets. In the case of digital print, new technology is being

applied to expand a market opportunity, while also increasing

production efficiency in those markets.

Opportunities for growth exist where print products and

technologies can be combined to meet emerging or growing

consumer needs. The trend has been toward consumer demand

for the more knowledge-intensive products.

4.4.4 Products and Technology

The major technological trend impacting on printing industries is

the move towards digitalisation. The technological issues of the

future for printers to manage will be the move towards:

1. Moving information - data transmission (infrastructure,

high-rate data transmission, greater bandwidth), file

transfer, web based access for customers and their data;

2. Content creation, dissemination and integration methods

including the unbundling/versioning of information;

3. Digital content management and its implications; and

4. Digital printing.

The Table below illustrates the change from a sequential value

chain model to a circular, networked value chain that will be the

basis for future value creating activities.

- 61 -

Table 4.15: Change in value chain / Business Model

FROM TO

INFORMATION PROVIDER

CREATING PROJECT

��

CONTENT PACKAGING

DATABASE LEVERAGING

�� SOURCING

��

PRODUCTION CONTENT PACKAGING

�� PHYSICAL

DISTRIBUTION

ELECTRONIC DISTRIBUTION

PRODUCTION

��

INTERFACE

PHYSICAL

DISTRIBUTION

MARKET PLACE MARKET SPACE MARKET PLACE

Source: (Roos G, Intellectual Capital Services, May 2000)

Two issues warrant close attention regarding printing

technology. First, the immediate future of digital electronics

seems assured. However there will be a limit to this particular

technology and new technologies will emerge.

The second issue relates to lifting profitability. Should the

Indian printing industry continue to be driven by the latest

developments in technology or does a more customer focussed

approach to business planning need to be adopted throughout

the industry which better reflects the role of technology within the

context of adding value to a customer?

4.4.4 Globalisation

Followed by advances in information technology and other

scientific advances, globalisation is now a commonly used term,

which attempts to describe the level of interdependence and inter-

connectedness that exists in international commerce. In this new

environment it is not uncommon for large multi-national

- 62 -

enterprises to have located various branches of the business or

businesses in countries deemed most economically advantageous.

As economies of scale become less crucial for firms’

competitiveness, there are more opportunities for Small and

Medium Enterprises to exploit new technologies and develop new

products and market niches.

The strength of printing industries has traditionally

depended on the strength of national economies. When economies

are doing well, it has been observed that the printing industries

also do well. India is no exception to this rule. The fact is that the

Indian industry operates in a global economy. If the Indian

economy is growing, then so too, we might expect, is the Indian

printing industry. The fact that the industry is to a large extent

domestically based does not insulate it from the cycles of the

global economy.

Traditionally, the main competitive strategies chosen by

operators have focused on cost competition and investment in the

latest press. Plans focusing on customer based competitive

strategies for the industry involve:

1. Identifying growing customers who need what can be offered

by these strategically based operators and then devising

ways to better meet these needs than anyone else; and

2. Developing very close value adding relationships with

customers. This approach helps strategically based

operators to identify when a slow-down is coming thus

giving them time to effect contingency plans.

- 63 -

For the Indian Printing Industry global commerce poses

challenges in the short term and also offers opportunities in both

the short and the long term. The challenges are:

1. Increased competition from other industries e.g. IT

2. Greater mobility of customers through e-trading

3. Need to keep abreast of emerging global developments

4. Increasing risk of erosion of cost base

5. Customers moving work offshore.

However, the opportunities are also substantial and include:

1. Emergence of knowledge based economies providing

opportunities for higher value printing activities

2. Access to potentially huge global markets through

increasing uptake of internet based business

3. Much more scope to develop and exploit niche markets

4. Focus on increasing literacy levels in developing countries

5. Emergence of loyal customer bases through the provision of

total business solutions.

One of the most significant opportunities for printers in the

future is the increasing need for firms to manage knowledge.

Printers have skills and competencies in manipulating, presenting

and organising information that will complement the development

and growth of knowledge management in the new knowledge

based economy. Even if the industry chooses to remain a

domestic player, it will be forced to respond to international

influences simply because its customers’ expectations will be

influenced by products and services obtainable in the

international market.

The global market will inevitably become more competitive,

and the Indian printing industries will need to develop and

- 64 -

maintain their international competitiveness or risk being left

behind.

4.4.5 Cultural Change and Trends in Society

Cultural changes are likely to impact on the printing industry

through changes in consumer preferences, the ongoing changes

and developments in the printing industry and general trends in

society. The main trends in society affecting the printing

industries will be the

1. Increasing thirst for knowledge and information;

2. Rising demand for targeted information due to many and

varied interests competing for time, and

3. Concern for the environment and corporate responsibility.

4.4.5.1 Consumers

Consumers are becoming increasingly discriminating - people

around the world have high, and increasing, levels of access to

information, services and products. Products are now being

tailored to the specific needs of individual consumers, blurring

the boundary between ‘products’ and ‘services’, as relationships

between buyer and seller become more important as a basis for

competitiveness. The promised emergence of the ‘electronic

superhighway’, the new media, is expected to have a strong

impact on how consumers purchase, receive and store

information. The current media trends in India indicate that

newspaper reading is steady and usage strong, magazine reading

is lifting for the electronic media.

As one example of the new media, electronic books have

emerged as a contender to traditional printed books. E-books

currently on the market can be downloaded from the Internet into

- 65 -

a computerised reader about the size of a normal book page,

storing around ten books of data.

By and large, they will provide more opportunities than

threats to traditional printers, in two ways:

1. Proliferation of new products and services means increased

demand for marketing information, much of which will be

printed matter; and

2. New communications networks and packaged media present

opportunities to produce and deliver information in non-

print ways.

Knowledge about cultural differences may also be used to

establish new markets and help industry become more

competitive overseas through:

1. Different ways of perceiving, and different cultural norms,

creating specific cultural preferences which may apply to

printed material (eg, in terms of colour, form, texture and

spatial layout); and

2. Cultural knowledge as a key factor for success in conducting

business overseas.

4.4.5.2 The Printing Industry

A recent survey of printers and pre-press trade shops in the

United States indicated that 70% plan to expand product and

service offerings during the next three years. Printers and pre-

press trade shops are diversifying beyond film and ink-on-paper -

because of customer demand and increasing competition from

within the industry. The services they typically plan to add during

the next three years are:

- 66 -

1. Facilities management - having some product and customer

interface at the customer’s site;

2. Photo CD capture - the capture, storage and distribution of

images in the photo CD format;

3. Digital printing - printing by a direct digital press;

4. Database management - management and storage of digital

data to create an additional revenue stream;

5. Web page design; and

6. CD authoring.

4.4.6 Environmental Issues

Commentators within the printing industries have said that the

industry has come a long way in its understanding of, and

commitment to, environmental issues. This includes supplying

recycled products, and ensuring compliance with environmental

standards through cleaner technologies and environmental

management systems. It is likely that the range and level of

environmental requirements will continue to grow, and ongoing

industry commitment will be instrumental in meeting these

challenges. Key environmental issues for the printing industries

include:

1. Recycling and waste management

2. Chemicals inputs and releases

3. Energy use

4. Consumer expectations

5. Compliance with imposed regulations

6. Self-regulation.

- 67 -

4.4.6.1 Major Cultural Changes and Trends

1. The new electronic media will have an increasing impact on

consumers, but it should provide significant opportunities

for printers.

2. Printers will continue to be strong adopters of the latest

technology with new technology based products and services

being offered due to perceptions of customer changing

needs. The critical question is whether this actually is an

appropriate response to customers’ needs or whether it is

the way printers tend to solve articulated or unarticulated

consumer needs, in which case there may be other or

equally good or better ways which are less capital intensive

and offer better utilisation of existing equipment.

3. Consumers will increasingly focus on the social and

environmental responsibilities in assessing the industry’s

worth.

4. Environmental regulations will continue to increase.

4.5 Industry Parameters for Growth

1. Currently the printing industries’ growth is closely linked to

the general economic activity but is forming a diminishing

component of GDP.

2. The industry is experiencing declining profitability.

3. Capacity utilisation is low.

4. Continued investment in capital equipment appears to be

exacerbating the low capacity utilisation.

5. Imports significantly exceed exports in several sectors of the

industry.

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4.6 Future Operating Environment

1. The general domestic macroeconomic environment in which

the printing industries will operate is predicted to have a

steady GDP growth rate of about 8 to 10%.

2. The global market will inevitably become more competitive,

requiring the Indian printing industries to develop and

maintain international competitiveness, regardless of

whether they operate domestically or internationally.

3. Technological change will continue at a rapid pace.

4. The new electronic media will have an increasing impact on

consumers and should expand opportunities for printers.

5. Printers will be required to respond to environmental

concerns either through self-regulation or continuing

external regulation.

4.7 Choices for Future

In this highly dynamic world the industry faces three choices

regarding its future:

1. Stagnate and die, or

2. Maintain and survive, or

3. Grow and sustain.

The premise on which this paper rests is that it is the

responsibility of all those committed to the future of the Indian

printing industry to choose to grow and sustain. In order to grow

and sustain growth on a long-term basis, careful analysis of

intermediate and long-term market opportunities is essential.

When examining the basic dynamics of future growth strategies

for the industry, it is learnt that the product life cycle dictates

that the market for current products and services will decline

over time. Along with this the Indian domestic market will only

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give a steady growth. Therefore the objective to grow can only be

met by strategies focusing on combinations of ‘revolutionary’ and

‘evolutionary’ business development options. By going

international the printing industry will have access to a larger

market, helping them sustain and grow individually and en

masse.

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CHAPTER – V

CONCLUSION AND SUMMARY

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CHAPTER – V

CONCLUSION AND SUMMARY

This chapter presents a brief summary of present study,

concluding observation and policy implication with regard to

printing industry of India.

5.1.1 Chapter One

This chapter gives a brief explanation about the importance of

industry in a developing economy with its contribution to

economy. Industry provides employment to about 35 percent of

the workforce in the country. It accounts for nearly 54.1 percent

of the Gross Domestic Product. Index of Industrial production has

gone up from 7.9 in 1950-51 to 204.78 in 2004-05. During the

same period manufacturing industry index has reached 214.6.

Composing types for printing, printing by letterpress,

lithography, photogravure or other similar process or book

binding form part of manufacturing industries and it is the 18th

largest industry in that category. It is made up of both registered

and unregistered establishments of different scales and spread

across the whole of India.

This belongs to the industry group NIC 22 comprising

publishing, printing and related activities. It has employed 70,634

workers in 3,007 factories in the organized sector engaging

1,12,974 persons and pays Rs. 44,291 lakhs as wages in 2003-

04. With a fixed capital worth Rs. 4,02,260 lakhs with an invested

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capital of Rs. 5,31,049 lakhs and Rs. 7,52,581 lakhs has made

avalue addition of Rs. 3,00,878 lakhs in 2003-04.

5.1.2 Chapter Two

The second chapter a gives a brief review of earlier study done

about the printing industry. The review of literature of previous

studies has been discussed under the following heads.

5.1 Printing Industry in general


5.3 Future of printing industry

5.1.3 Chapter Three

In this chapter methodological details regarding the present study

have been briefly explained. These include description of the field

of study, nature and scope of data sourced and the various tools

and techniques employed in analyzing the data have been briefly

presented.

5.2 Findings of the Study

1. Indian printing industries are experiencing a slow slide in

profitability and a decline in return on assets.

2. The challenge in the new millennium is to innovate, revitalize

profitability and sustain industry-wide long term growth.

3. Reliance on the way business has been done in the industry

upto now is no guarantee of survival let alone sustainable growth.

4. New approaches are needed for new development and the

customer is vital in the in this process.

5. Customers see printers as only providing ink-on-paper

products.

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6. Customers want to see more total business solution offerings

from Indian printers.

The study provides the following suggestions in pin pointing

projects and initiatives that will position Indian printing

industries to achieve long term sustainable growth. The

suggestions underscore that profitable business development will

depend on strategies that creatively integrate:

1. Clever business strategy based on sound knowledge and

in-depth understanding of the existing and potential

customer needs.

2. Appropriate use of print technology and most importantly,

3. Patient investment by firms in the professional

development of people.

5.3 Conclusion

Success of printing industry in India is more likely to follow if the

conditions given below are met.

1. The firm in the industry has a clear idea of why it is in

business.

2. The firm has a clear understanding of how it fits in the broader

scheme of things, viz., the economy, the industry, etc. It

continuously monitors and reassesses the implication of change

that will inevitably occur in its operating environment.

3. The firm knows exactly who it is competing with.

4. The firm understands where value is or can be created within

the firm. The study has shown that so often, areas that can create

value in printing firms are either undervalued or not valued at all.

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5. The firm has an understanding and has in place, appropriate

systems and methods of financial analysis and planning.

6. The firm is able to identify and manage to best effect, all

resources within the firm that add or create value. Here value

creating resources include” human capital, organizational capital,

relationship capital (formal and informal networks).

7. The firm is able to articulate strategies which favourably

position it with respect to the competition.

8. Firms should sell total business solutions like print plus,

integrated printing, facilities and data management services and

image management services.

9. Industry and its firms should find and /or develop successful

demonstrations of value chain and supply chain management

practices, as well as other linkages, within the industry.

5.3.1 Strengths

Imaging capabilities

Uptake of new technologies by traditional printers

Expertise in the application of technology

Uptake of new technologies in a more developed form

Value of knowledge and expertise in documents and imaging

Technology convergence

Market size can facilitate closer relationship between

customer and supplier

Breadth, spread and proliferation - in every electorate

Efficiency of small companies

Flexibility of a large number of companies

Ability to source new opportunities by younger players

‘Modern’ image in design and desktop

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Ability to handle ‘content’

Ability to facilitate entire production process - asset &

facilities management

5.3.2 Opportunities

Imaging

Benefits for commercial printing

General reduction in tariffs (cheaper raw materials)

Domestic regulations, which protects local products

Opportunities for import replacement (books, packaging)

Government purchasing policies - developing the industry

Intellectual property - closer links to customer, content

creators

Potential benefits from taxation reviews

Venture capital if taxation system changes

Potential opportunities with R & D incentive schemes

Technology now at the disposal of non-traditional printers

Customer education

New opportunities for business growth - market space,

customisation

Technology convergence

Copyright – document management, records, knowledge

Recycling - if cost of technology makes it competitive

Waste disposal - new markets with disposal technologies

Environmental regulations if can be exploited to advantage

Market size can facilitate closer relationship between

customer and supplier

Quality of the product that can be produced in Australia

Commitment by industry regarding training

Intellectual Asset management - ie, records, documents

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5.3.3 Weaknesses

Trade based image of industry

Uptake of new technologies leading to over-investment in

‘heavy machineries’

Potential insolvency of companies who over-invest

Cost of new technologies

Inability to maximise R & D opportunities

Training structure inability to keep up with new

technologies

Lack of trained workforce and trainees

Inability to capitalise on value of knowledge and expertise

People displacement - inability to capitalise on people who

move on

Recycling - expense of technology, lack of markets due to

cost

Waste disposal – by-product of the technology

Management skills - lack of formal trained personnel

Quality issues at times

Labour market reform still required

Career paths and industry recognition

Commitment by industry regarding training

Dominance of industry by small players (employee numbers,

size of companies)

Antagonism to new technology by older players

Inability to think ‘long term’

Lack of business planning and vision in areas of

competitiveness

Don't market the industry / firm as total process producers

5.3.4 Threats

Perception of being trade based

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Tax costs for books, mags, newspapers

Tariff costs for some areas of industry

Entry of multinationals who must comply with company

policy

Aggressive offshore competition wanting to export into India

Current system - depreciation, capital gains tax

Cost of new technologies

Need for rapidly developing training structures

Technology now at the disposal of non-traditional printers

Customer expectations and rapid turnover

Technology convergence – Information technology as a major

threat

Waste disposal - public image, regulations, competitiveness

Career paths and industry recognition

Encouragement of other industries to take on opportunities

because of lack of vision

5.4 Suggestions

A. It is recommended that the printing industry undertake a

study to identify opportunities for in regional clusters in India

and to identify ways in which they can contribute more to

regional Australia. This study needs to include the development of

scenarios for dissemination to the industry.

B. To promote further internationalisation of the printing

industries, it is recommended that the industry

1. Undertake studies on the potential for Indian industry to

reverse the trade deficit in printed products and disseminate the

findings to industry and government. In particular:

1. The factors that have led to successful exporting activity

in some sectors of the industry with a view to developing an

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exporting culture in those sectors where export

opportunities may not have been fully exploited.

2. The approaches other Indian industries have taken or are

taking to lift their international competitiveness. These

industries could include the information technology software

Industry (track record for export growth) and readymade

garments industry (small and medium emerging exporters).

3. The approaches other national printing industries and

selected overseas firms have taken to lift their export

performance in those countries whose printing industries

have a significant impact on the global printing industry and

those countries whose industries have similarities (and

notable differences) with the Australian industry.

C. It is suggested that the industry collect and collate

industry-wide statistical information on a quarterly basis:

1. Investigate the current sources and levels of value-adding

in the industry;

2. Produce and disseminate annual reports on industry

performance;

3. Develop key operational benchmarks to assist firm based

planning and adjustments. This may involve:

(i) Surveying the industry for relevant data and

information; or

(ii) Developing and validating parameters for the

industry and its sectors.

D. In order to address low capacity utilisation in the industry

it is suggested that the industry assess the nature and extent of

low capacity utilization

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1. Develop an accurate measure of capacity utilisation.

2. Assess whether there is a sub-optimal or misallocation of

capital investment in the industry viz the opportunity cost of

current levels of investment in technology.

E. In order for the Printing Industries to have the capability to

respond to emerging issues and trends impacting on them in a

timely and effective manner, it is imperative that comprehensive

and accurate information and intelligence is available for strategy

building and decision-making. It is recommended that industry:

1. Develop a service to the industry to gather, interpret and

disseminate information and knowledge on emerging issues

and trends, both domestic and international, which may

impact on the industry in the medium and long term.

2. Conduct annual or bi-annual review of possible scenarios

for industry’s future growth and development, and

disseminate to industry.

F. Assist firms in the industry to increase their Research and

Development and innovation and encourage the development of

new technologies and business management. Undertake a study

of Research and Development and innovation issues for the

industry, including approaches to encourage firms to increase

their innovative activities through networking, cooperative

research centres, centres of excellence, training centres and

business management schools.

5.5 Scope for Further Study

As a natural consequence to this study and follow up on the

conclusion and suggestions, further studies on the scope of

technology, customers and future innovations in the printing

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industry in India to evolve a suitable strategy with appropriate

competencies and technologies are proposed..

The printing industry is driven by technology and customer

needs, both are changing at a rapid pace due to the evolution of

newer technologies and media. This provides newer and

increasing opportunities for the industry. Increased competition

from other industries such as information technology provides

greater mobility to customers, E-trading, emerging global techno-

economic and political developments pose a great challenge to the

printing industry. Hence this study has identified scope for

further studies in the following areas.

1. Development of clusters of printing industry in India.

2. Issues of trade deficit in printed product.

3. Identifying and developing global markets for the

industry.

4. Foreign direct investment in printing industry.

5. Addressing issues of value addition in the emerging future

by improving the competency.

6. Development of operational benchmarks for setting

industry standards and to address low capacity

utilization.

7. Collection and collation of industry wide statistical

information and intelligence with a view to forecast trends

and build scenarios to identify the opportunities and focal

areas.

- 1 -

BIBLIOGRAPHY

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BIBLIOGRAPHY

Books

Altman, E I (1968): Financial ratios, Discriminant analysis and

the prediction of corporate bankruptcy. The Journal of

Finance Vol 23, No 4, pp589-609.

Printing for Profit 2000, (1999), British Printing Industries

Federation, Unite Kingdom.

Carnegie, G., Jones, S., Norris, G.,Wigg, R.Williams, B. (1999).

Financial Accounting - Financial and Organisational

Decision making. McGraw Hill Companies.

Jha, Hira Kant, (1985): Empirical study of printing presses in

Patna, Bihar, (Ph. D. thesis - Patna University, 1985).

Roth, Martin (1995): Analysing Company Accounts by,

Wrightbooks, McGraw-Hill.

Ruddar Datt, K. P. M. Sundharam, (2004): Indian economy, S.

Chand & Company Ltd., New Delhi. Pp 639-704.

Reports

A Unique Printing Industry Resource Printing Industries

Association of Australia, 2005: Printing Industries

Association of Australia

An Overview of the Printing and Publishing Industry in the US,

Including Future Predictions to 2009, 2005: Business Wire,

Dec 6, 2005

- 80 -

Annual Survey of Industries, 2002-03, Vol. I, Statistics on

Employment and Labour Cost in Census Sector, Central

Statistical Organisation.

Australian Printing Industry Report, 1998: 300 North Washington

St. Suite 102 Alexandria, VA 22314, Phone: (703) 684-4044,

Fax: (703) 684-1795.

Birkenshaw, John, 1992 Annual Lecture, SBPIM: future trends in

printing, Ink & Print, 1993 issue.

Economic Census, 1998: All India Report: Government of India,

Ministry of Statistics & Programme Implementation, Central

Statistical Organisation, New Delhi.

Economic Survey 2005-06, 2006: website: ttp:/indiabudget.nic.in

GATF Technology Forecast, (1999): Graphic Arts Technical

Foundation USA

KBA REPORT, Koening & Baur AG Frankenthal (Albert), Johann

Kein Str – 1, D-67227 Frankenthal, Germany.

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and Other Issues, Federation of Indian Chambers of

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National Accounts Statistics, NAS – Sources & Methods.

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Trends in India’s Foreign Trade, 2004:

http://commerce.nic.in/annual2004-

5/englishhtml/content.htm.

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and Employment Projections, Suite 2135, 2 Massachusetts

Avenue, NE Washington, DC 20212-0001, URL:

http://www.bls.gov/oco/cg/home.htm.

Association Organisations

Digital Printing & Imaging Association, 10015 Main St. Fairfax,

VA 22031, Phone: (703) 385-1339, Fax: (703) 389-1336,

www.dpia.org

Federation of Societies for Coating Technology, 492 Norristown

Rd. Blue Bell, PA 19422, Phone: (610) 940-0777, Fax: (610)

940-0292, E-mail: [email protected],

www.coatingstech.org

Flexible Packaging Association, 971 Corporate Blcd, Suite. 403

Lithicum, MD 21090, Phone: (410) 694-0800, Fax: (410)

694-0900, E-mail: [email protected], www.flexpack.org

Flexographic Technical Association, 900 Marconi Ave.,

Ronkonkoma, NY 11779-7212, Phone: (631) 737-6020, Fax:

(631) 737-6813, E-mail: [email protected],

www.ffta.org

Graphic Arts Technical Foundation, 200 Deer Run Rd. Sewickley,

PA 15143-2600, Phone: (412) 741-6860, Fax: (412) 741-

2311, E-mail: [email protected], www.gain.net

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Gravure Association of America (GAA), 1200-A Scottsville Rd.,

Rochester, NY 14624, Phone: (585) 436-2150, Fax: (585)

436-7689, E-mail : [email protected], www.gaa.org

Indian Printing, Packaging and Allied Machinery Manufacturers

Association.

Indian Pulp and Paper Technical Association.

National Association of Printers & Lithographers, 75 West

Century Road Paramus, NJ 07652, Phone: (201) 634-9600

or (800) 642-6275, E-mail: [email protected], www.napl.org

North American Graphic Arts Suppliers Association, 1604 New

Hampshire Ave. NW Washington, D.C. 20009-2660, Phone:

(202) 328-8441, Fax: (202) 328-8513, www.nagasa.org

Paperboard Packaging Council, 201 N. Union St., Suite 220

Alexandria, VA 22314, Phone: (703) 836-3300, Fax: (703)

836-3290, Visit us in www.ppc.net.org

Printing Industries of America, 100 Daingerfield Rd. Alexandria,

VA 22314, Phone: (703) 519-8100, Fax: (703) 548-3227,

www.gain.net

Rad Tech, 6935 Wisconsin Ave., Suite 207 Chevy Chase, MD

20815, Phone: (240) 497-1242, Fax: (240) 209-2337, E-mail:

[email protected], www.radtech.org

Research & Engineering Council of Graphic Arts Industries, P.O.

Box 1086 White Stone, VA 22578-1086, Phone: (804) 436-

9922, Fax: (804) 436-9911

Screenprinting & Graphic Imaging Association International,

10015 Main St. Fairfax, VA 22031-3489, Phone: (703) 385-

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1335, Fax: (703) 273-0456, E-mail: [email protected],

www.sgia.org

Society of the Plastics Industry, 1801 K St. NW, Suite 600,

Washington D.C. 20006, Phone: (202) 974-5200, Fax: (202)

296-7005, www.socplas.org

Technical Association of the Graphic Arts, 68 Lomb Memorial Dr.

Rochester, NY 14623-5604, Phone: (585) 475-7470, Fax:

(585) 475-2550, Visit us in www.taga.org

The All India Plastics Manufacturers' Association.

The All India Printing Ink Manufacturers Association.

Waterless Printing Association, P.O. Box 59800 Chicago, IL

60659, Phone: (773) 743-5677 or (800) 850-0660 (U.S. and

Canada), Fax: (773) 743-5756, www.waterless.org

Documents

Printing Industry in India