Jyotsna Enterprises was founded in 2011 in Bharatpur in Rajasthan, with the primary purpose of importing and manufacturing inkjet inks. It is a compact firm with an annual turnover of Rs 3 to 4 crore (approximately US$ 500,000). For a decade, it has provided what it describes as exceptional customer service for inkjet ink solutions – with its state-of-the-art technologies, high-efficiency production plants, and responsive management processes.
Jyotsna Enterprises manufactures solvent, eco-solvent, LED UV, sublimation, dye, and pigment inks for a variety of inkjet output devices. These include wide and large format signage printers and digital textile printing machines. It also produces inks for office inkjet and laser printers. The company has a structure for delivering quality products and services that include research and development (R&D), production, sales and marketing, and lastly administration.
Dharmendra Singh, a partner in Jyotsna Enterprises, participated in the recently concluded Media Expo in New Delhi in October 2021 to interact with his industry peers and end-users to introduce some of the company’s innovations in the signage sector.
The Indian signage market falls 40 to 80% in the pandemic
Singh discussed his thoughts on the Indian media and signage business that have borne the brunt of the pandemic’s lockdowns and decline in overall out-of-home economic activity. “The markets that our company addresses within the signage and textile industry fell as much as 40% to 80%, and we were, consequently in great trouble. There was no demand and our customers were not ordering consumables including our inks.
“We had seen very strong demand before the pandemic, and as the pandemic went on, the situation became quite depressing for us.” Referring to the October to December 2021 period, Singh said, “But as the exhibitions are beginning to take place, we are again getting a chance to display our products to industry peers and customers. Let’s see, if this will help the industry take flight.”
Singh explained the USPs of his company. “We manufacture inks for printheads from Konika, XAAR, Proton, Gongzheng Starfire, and other printhead manufacturers. Our inks provide high print quality, strong color endurance, fast-drying, good permeability, and strong adhesive force. They have a long storage time (shelf life), excellent scratch-resistant, and are eco-friendly.”
The impact of the Covid-19 outbreak on ink manufacturers
According to a recent report by Mordor Intelligence, the global printed signage industry was estimated to have a value of US$ 40.283 billion in 2020 (approximately Rs 3,05,874 crore). According to it, the printed signage industry is expected to grow at a measly CAGR of 0.19% during the forecast period from 2021-2026 – although the same study forecasts that the Asia Pacific region will be the fastest-growing.
IppStar’s research on Indian signage
However, our sister organization, research company IppStar (www.ippstar.org), believes this to be an underestimate and certainly for India and the Asia Pacific region which are not nearly saturated by many types of essential indoor and outdoor signage. According to IppStar’s estimates, as stated by its analyst, Purva Dwivedi, “The Indian signage industry is currently above US$ 2 billion (approximately Rs 14,900 crore). We estimate it will achieve a CAGR of 10% in the five years from 2022-2027. IppStar also believes that the signage industry is often underestimated globally because it comprises many smaller creative agencies and output companies – as well as fabrication and vertical space rental agencies that are not included at all.”
With countrywide and local government lockdowns, the Covid-19 epidemic has had a significant detrimental impact on interior and outdoor signage businesses from March 2020 onwards. Since September 2021 there some opening up of travel, hospitality, and the overall outdoor economy has gained traction. The extended pandemic factors have had a negative effect on signage demand and the ink and substrate supply chain for both domestic and foreign markets, resulting in a progressive drop in printed signs during the epidemic.
On the other hand, the healthcare industry has seen a massive expansion in interior and outdoor signage, with an unparalleled need for signs. The dissemination of scientific knowledge and virus control has been aided by signage portraying Covid-19 precautions and safety measures in pharmacies, grocery shops, retail outlets, testing and immunization clinics, public areas, points of purchase, banks, airports, and transportation hubs.