Siegwerk captures 20% of India’s flexible packaging inks market after completing Hi-Tech Inks acquisition

INDIA – Siegwerk has completed its acquisition of Hi-Tech Inks, giving the combined business over 20 percent of India’s flexible packaging inks market while employing approximately 1,700 people across the country.

The transaction, finalized in June 2026, represents Siegwerk’s largest acquisition since purchasing SICPA’s packaging inks business two decades ago. 

The merged entity now leads one of the world’s fastest-growing packaging economies, where flexible packaging demand expands at 10-12 percent annually. 

Siegwerk gains production sites in Bhiwadi, Rajasthan and Vapi, Gujarat, adding to its existing India footprint. 

These locations bring solvent-based and water-based inks, metallic and special-effect inks, varnishes, and overprint varnishes into Siegwerk’s global portfolio.

Why Two New Factories and 1,700 People Reshape Customer Supply Lines

The Bhiwadi and Vapi facilities complement Siegwerk’s existing operations, creating a geographically diversified production network that cuts delivery lead times for customers across India’s major industrial corridors. 

Ashish Pradhan, President of Siegwerk Asia, said that the acquisition was an important milestone for Siegwerk in India and Asia. 

He explained that by combining both organizations’ strengths, the companies were building a stronger platform to serve customers, speed up innovation, and support the continued growth of India’s dynamic packaging industry. 

Pradhan added that Siegwerk warmly welcomed the Hi-Tech Inks team into its family.

How India’s 15 Percent Annual Ink Import Growth Fuels Consolidation

India’s ink for flexible packaging import shipments grew at 15 percent annually from 2020 to 2024, with growth accelerating to 18 percent between 2023 and 2024. 

The low-migration food contact inks segment alone is valued at US$18-25 million in 2026 and projected to grow at 11-15 percent annually through 2035, reaching US$55-75 million.

Karan Mahajan, Managing Director of Hi-Tech Inks, said that the transaction’s completion marked the beginning of an exciting new chapter. 

He stated that together with Siegwerk, the combined business was uniquely positioned to deliver greater value, broader capabilities, and stronger innovation to customers across India’s packaging ecosystem.

What Siegwerk’s 2005 SICPA Purchase Reveals About Today’s India Bet

The Hi-Tech Inks deal mirrors Siegwerk’s 2005 acquisition of SICPA’s packaging inks business, which transformed the German company into a global force with annual sales of €773 million at the time. 

That purchase expanded Siegwerk into Southern Europe, Turkey, Scandinavia, Russia, South Africa, Canada, Mexico, South America, China, India and Australia. 

Siegwerk will now integrate operations, manufacturing capabilities and product portfolios across its expanded India network, focusing on future-ready, sustainable and high-performing solutions.

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