13 March 2009
Australian business helps Indian firms save cash, go green
While businesses around the world are looking at strategies to weather the global financial crisis, one Australian company is expanding its international business.
Refiller and remanufacturer of ink and laser cartridges, Cartridge World, is set to launch its 50th store in India this month, two years after entering the market.
Minister for Trade Simon Crean said the company was a great example of Australian success.
“Our engagement with India is growing at a rapid pace and Cartridge World is showing what is possible to achieve.
“The company is demonstrating it is possible to grab market share even in these tough economic times.
“India is a world leader in information technology. For an Australian product, developed with Australian technology, to dominate such a market is a significant achievement.
“This product not only reduces e-waste but also raises awareness of a pressing global issue in a high-consumption market,” Mr Crean said.
Cartridge World, based in South Australia, was the first organised printer cartridge refiller and retailer in the sub-continent.
The company has 48 stores in 23 cities in India, with plans to expand to 250 stores by 2011.
Dramatic cost saving measures undertaken by large Indian organisations following the downturn has seen business boom, according to Cartridge World’s South Asia CEO Naveen Rakhecha.
“Cartridges and toners are not discretionary items; businesses need to print no matter what. In the past few months, we’ve seen a significant increase in bulk enquiries from large Indian companies looking to cut costs,” he said.
The Indian market for cartridges is estimated at A$921 million (INR 3,000 crore), and growing at 20 to 25 per cent annually.
Mr Rakhecha said reusing printer cartridges was not a new concept in India, but the guaranteed quality of the refilled product was the factor behind Cartridge World’s success.
Austrade assisted Cartridge World with the launch in India and is helping explore expansion opportunities in Bangladesh, Bhutan, Nepal, Sri Lanka and The Maldives.
Cartridge World was established through a master franchise with a leading Indian express and logistics network, AFL India Private Limited. AFL India has previously established global brands such as DHL and Western Union in India.
Media Inquiries: Mr Crean's office 02 6277 7420 - Departmental Media Liaison 02 6261 1555