Please help us with the brief introduction of Packone?
It all started in 1990 with the company named Innovative Vacuum Technology (IVT). It was established by my father Vijay Fotedar. One of the significant applications of IVT was Vacuum Web Coaters for the Film Industry. We were compelled by some of the machine suppliers to also look at the converting side of the packaging business since they had opportunities to be addressed. IVT led to Fotedar Engineering Services’ formation in the Middle East in 2007 and Packone Solutions in India in 2017.
Product Portfolio
Packone Solutions delivers ancillaries, components, and consumables to the flexible packaging industry. Our Core Expertise lies in Web Handling, Bag Making, and Extrusion Coating. Of late, we are focused on creating a lineup of solutions around sustainable manufacturing practices. We aim only to support Food Safe, Safe for the Environment, and Safe for the Workplace. In this direction, for the web handling business, we offer 100% Defect Detection Systems for the wide-web industry from DAC Engineering Co. Ltd., Japan. We also work with the world leader in Shafts, chucks, and roll handling systems from Italy, Svecom PE, and the leader in Rotary cutting solutions from Germany, Dienes.
Within extrusion coating, we work with Cloeren Incorporated from the USA, the world leader in Extrusion Die technology, and have been at the forefront of sustainable solutions. Mica Corporation from the USA has been the world leader in Extrusion Primers and Coatings for Flexible Packaging since the 1970s and is exclusively into water-based chemistries which are FDA compliant. Mica has also launched their latest generation adhesion promoters for new age Bio Resins to offer workable solutions to the industry, which is at the cusp of switching towards sustainability.
In the Bag Making business, we work with several leading closure and technology manufacturers worldwide to bring innovations to market. As a business, we are fairly focused in our approach towards our service offering.
When have you joined the business?
I joined the business immediately after completing my MTech in 2003. Initially, I worked as a service engineer in IVT for installing machinery in different parts of the world like Africa, the Middle East, and Asia. I worked as a service engineer for five years. Everybody in our company for in the sales team follows the same route, equipping our team with valuable hands-on product experience. It creates a spirit of ‘Service First’ within our company.
What are the focused markets for Packone?
We are focusing on South Asian countries like Bangladesh, Sri Lanka, Nepal, and primarily India. In addition, we have another sister concern for the Middle East, and Africa called Fotedar Engineering Services, which is based out in Dubai.
What is the USP of Packone?
Packone offers engineering support to more than 100 companies in India. Being very focused on our approach, we are specialized in Web Handling, Extrusion Coating, and Bag Making. Apart from the above three specializations, we also have considerable expertise in Finishing and Material Testing for Flexible Packaging for the Middle East business. Because of our focused approach, we have been able to accumulate much know-how within the company. We have an experienced team of professionals who have worked for at least 10 in some cases 20 years in each domain where we are currently operating. So we have dedicated experts in Web Handling, Bag Making, Extrusion Coating, Material Testing, Finishing, etc. We have formed a specialized team of engineers that cater to customers for their particular requirements for each domain, and we observe this attention to detail as our greatest USP within Industrial Marketing companies.
How do you perceive the Indian market?
Markets in India are getting mature. India is becoming assertive in the global arena. This re-rating in the minds of the world is an essential step towards establishing a legacy for the delivery of excellent solutions. In general, I feel India has a bright future because it has such a large pool of talent within the country. There are so many youths and so many engineers and professionals who are building the country’s future on the right path.
For Example, Switzerland is known for watches, I am not sure that every watchmaker born in the country is perfect, but it’s the perception of the country that the wrist watches coming out of the Swiss Alps are the best. Similarly, India needs to be re-rated, and that is happening very actively; it is assisting everywhere; it is helping with the machinery industry; it is helping with the primary sector; I see it as a very positive trend for the country.
The Indian Consumer has long been known to be price sensitive. However, I think Indian entrepreneurs are very discerning and ambitious. They understand quality, even if they can’t pay for it today. It is visible in purchase decisions with aspirational purchases across sectors that have delivered sustained benefits to early adopters. The price sensitivity stems from the disparity in wealth of our retail consumers, a large majority of which lie at the Bottom of the Pyramid. It imposes tight restrictions on product pricing and design, and everyone in the supply chain has to be price sensitive. However, consumer spending power is on the rise, and the future is full of promise.
How has your company adapted to the COVID- 19 situations?
We have not cut back our services during the Covid period; our engineers were available whenever our customers wanted them to visit; of course, digitalization has assisted in Covid times. It is perhaps the most considerable adaptation after Covid. Initial one or two months were exceedingly tricky because there was an irrational reaction from the market. Payments and Receivables were a problem, and there were many other challenges as well, but I think we came out strong in the end. Our suppliers in the US, Europe, and Japan were also very tolerant. At the same time, the customers were very supportive by giving clear information about potential dates for remittances. In general, it was a collective effort, and we emerged stronger.
How many people do you have in your service team?
In total, we have a team of 30 members around the globe. There are six dedicated service engineers in India, and there are 7 to 8 dual focus agents in sales and service; we are a very technical-oriented company. One of the bedrocks of this company is a good understanding of the technology and service orientation.
What is your outlook for the Flexible Packaging industry a few years down the line?
The outlook for the flexible packaging industry is very positive. There is no doubt about it. Flexible Packaging in India is going to be a significant part of the entire gamut of solutions.
The demand for flexible packaging will undoubtedly grow, but there will be a significant change in traditional flexible packaging structures. For example, people might tend to move away from composite structures towards more mono-family or polyethylene-oriented systems.
However, as per my experience, I have very closely studied the recyclability of an aseptic pack, so composite structures are also very recyclable. What needs to be changed is the behavior of the consumer and waste collection infrastructure.
What is your most significant achievement?
The most significant achievement for us last year was business continuity during Covid. We have few colleagues who got Covid once or twice in the field while they were servicing, but still, they continued to deliver the services; I salute their commitment towards business. I think that is an outstanding achievement, and since we are in the service industry, all achievements will revolve around people.
Even our team in Dubai has done a fantastic job. Our Engineers had Covid in the past, but they bounced back from it and continued their service; even during the height of Covid tension, they were visiting customers. Indeed in a responsible way, of course, following all protocols of Covid like keeping social distancing, using personal protective gears, etc.
Hard times always are a test for any team. However, I am delighted and proud of what my team has achieved during Covid times. The resilience of my team is our most significant achievement.
Future Vision
We have made our vision for 2023 to 2030. The entire crux of the concept was how ‘I‘ needs to be phased out by ‘WE‘ till 2030, our decision making should be broad-based and how teams need to be more creative to take the business forward. We wanted to create a support structure and gradually bring the team up to take over the company forward, and I could take on a role of a mentor assisting everyone to do well.
