Fortune 500 company, US-based Sealed Air Corporation, the inventor of bubble wrap packaging will increase its India manpower by 50 per cent, Jerome Peribere, president and CEO told NDTV.
"We are going to increase our manpower by 50 per cent, and we are going to make our global laundry labs in India because we have an extraordinary and growing business here in India," he said. The company currently employs 450 people in India, which means it will look to hire around 225 people more.(Watch video)
Sealed Air is a packaging company known for its brands - Cryovac food packaging, Bubble Wrap cushioning, and Diversey cleaning and hygiene.
The company says India is its fastest growing geography. Sealed Air has two units in India - in Mumbai and Bangalore.
"India for us I would call within Sealed Air, a mid-sized country, it's in the top 15 countries but with the highest growth rate," Mr Peribere said.
The company is growing at 3 times India's GDP growth and expects even more robust growth going forward by creating value addition in industries.
"We are, thanks to our technology reducing by about 40 per cent the water used usage during the laundry process, we are also reducing by 40 per cent the energy consumption and we are increasing dramatically linen life. So you can imagine how much saving we can create to hotel chains, to hospitalities, hospitals etc. and this is important we have such a level of expertise in India that we have decided to make it a global lab."
Indian economy under the leadership of Prime Minister Modi seems proactive and serious about reforms, however 'ease of doing business' in India still remains a concern among global players, Mr Peribere said.
"India still has progress to do with regards to ease of doing business, it is ranked about 150 out of the 200 countries in the world."