“Block chain used in packaging to stop counterfeit market” – Dr. Jitendra K. Das
Technology, Innovation and Sustainability - 3rd Edition of Smart Packaging Summit by CII
New Delhi: ‘We have entered the fascinating era of ‘Connected Packaging.’ These days, smart can be added in front of just about everything and the packaging is no different. Being influenced by digital transformation, smart packaging is a way for brands to connect their online and offline offerings.’
The theme note pretty much summed up the 3rd edition of Smart Packaging : Technology, Innovation and Sustainability, organised by Confederation of Indian Industry (CII). The summit also touched upon – ‘’Connecting the physical with the digital’’ technology enabled packaging.
Dr. Jitendra K. Das, Director, FORE School of Management, New Delhi, while moderating a session on smart packaging, said, “Right packaging helps in marketing and sales – in terms of volumes and price points. It can help a product to sell more and also enable it to sell at a higher price. It is also very important when it comes to identifying a counterfeit product with a genuine product as the consumer may not be able to understand a hologram which itself is counterfeit. According to data there has been a 20% growth in the counterfeit market per year which is alarming and product companies must move in to next level of technology enabled verification process like blockchain, IoT, RFID etc ”
Mr. Mohammed Nadeem, Chief Executive Officer at Paharpur 3P, spoke about smart packaging enabled by technology like Radio Frequency Identification (RFID) in the retail supply chain, Nanocomposite in the packaging that include pet film, print, Glue, Foil, Polypropylene and film with a layer in Nanocomposite. He said packaging has a critical role in food items. Innovation and technology in material. packaging has a critical role in food items.
Mr. Yogesh Kapur, Executive Vice President & Business Head, Holography Business, UFlex Ltd., spoke about state of art packaging with brand protection and anti- counterfeit holography, pharma PVS blisters, Wide web films, stamping foils, Track & Trace solution, RFID trace and fast track solutions. The counterfeit market is expected to grow 20% per year as per FICCI, he said and referred to data stating 35% fake drugs come from India resulting in a counterfeit loss of around 4000 Crore. FMCG and alcoholic beverages accounts for around 275 crore billions of estimated loss.
Mr. Utsav Dixit, Head of Sustainability & Strategic Engagement ALPLA India, stressed upon the counterfeit products stating data from Interpol where about 1 million people died using counterfeit products. The spend for anti-counterfeit is around 285 billion USD as of 2020. The shelf life tracking of products is another challenge area for many which needs special attention and intervention of technology enabled smart packaging, where an outdated medicine may have a level printed electronics chip which can indicate that it is no more safe, he said.
.Dr. Jitendra Das, mentioned how the use of geo spatial mapping and block chain in packaging can enable the authenticity of any product by providing locational information thus making it trustworthy and dependable for the consumers. “Using these technologies consumers can also be made aware of the product’s history”, he said.