Konica Minolta Business Solutions, the India arm of Konica Minolta, was recently felicitated by its parent company at the Group’s Annual Assessment. With entries from various Konica Minolta functions in more than 150 countries, Konica Minolta India won the Silver award in the Business Contribution category for its superlative performance in the Production Printing business.
The assessment is a yearly roundup of the Group’s global business. A total of 20 awards were presented in two categories, Transformation and Business Contribution, at the high-profile event hosted on 6 July 2018, by Konica Minolta Group President and CEO, Shoei Yamana. Participants in the Transformation category were gauged on the level of transformation driven by a strategic business process change and the improvement that it facilitated on a larger scale within the organization.
All finalists were given an opportunity to present their proposed accomplishments and innovations before a jury comprising senior leaders within the Konica Minolta Group. Konica Minolta India presented its success story in the country’s Production Printing space and highlighted the efforts that it has made to ensure sustainable and robust future growth for the Group’s business in India.
Print market in India
India is expected to be the fifth largest market by 2018 in terms of print volumes, with segments such as packaging and labels demonstrating the strongest growth with a CAGR of 7.8% between 2012 and 2017. Package printing is also estimated to comprise 43% of the overall print product sales in 2017, with a market outlay of INR 77,714 crore. Konica Minolta India has been tapping into this lucrative market opportunity through its innovative digital print and printing solutions, and has become a well-established name in the Indian production printing segment with more than 50% of the total market share in 2017. Having achieved an annual revenue milestone of Rs. 500 crore, the company is now aiming to become a Rs. 1,000 crore business by 2022.