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Yash Papers launches new range of biodegradable & eco-friendly tableware range, invests Rs 60 cr to set up India's largest compostable tableware plant

Mumbai, Sep 22 (UNI) In a bid to promote the use of eco-friendly products in the food industry, paper-manufacturing company Yash Papers has launched its new range of compostable, biodegradable and
eco-friendly tableware range, called 'Chuk', made from sugarcane waste, bagasse.
Based out of Faizabad in Uttar Pradesh, Yash Papers is India’s largest modern agro residue-based paper brands which manufactures kraft packaging material to chains like McDonalds, KFC and Pizza Hut. Yash Papers has invested Rs 60 crore in setting up its new biodegradable plant, which has a state-of-the-art facility that
includes a production innovation centre.
The plant currently has a production capacity of 10 lakh units per day and the company plans to double the capacity every year for the next 3 years.
The company closed the financial year ended 2016-17 in consolidated revenue of Rs 183 crore and has aimed to receive at least 50 per cent f their revenue from the new bio-degradable segment in the next three years.
India generates over 15,000 tonnes of plastic on a daily basis and the use of plastic in the packaging accounts for 35 per cent of plastic consumption.
In a bid to reduce the food industry’s dependency on plastic, Yash Papers has developed a modular cost-effective design priced between Rs 1 and Rs 7, which is actually cheaper than plastic.
The launch commenced with a panel discussion in the city on ‘Promoting sustainability in Food Industry' last evening, in which panelists comprising food influencers and TV show hosts Rocky Singh and Mayur Sharma, Anna Warrington, director, Forum for the Future; Kunal Suri, chief operating officer, foodpanda; Srishti Jain,
Feeding India and Riyaz Amlani, chief executive, Impresario discussed the relevance of eco-friendly food packaging for healthy eating and progressive steps taken by the Maharashtra government in banning plastics in the city.
Speaking at the launch of the eco-friendly range, Ved Krishna, head of Strategy at Yash Papers, said, "We end up consuming so many carcinogens without any awareness through the thermocol and plastic products we are served on and then these products are disposed damaging the ecology. It is time to embrace products that will
enable us to eat safe and benefit the planet when disposed.
"In order to bring in a better process in the growth of sustainable packaging solutions in India, the company last month also announced a strategic tie-up with food delivery platform, foodpanda. The initiative enables foodpanda’s partner base of 15000 plus restaurants to offer its customers food in environment-friendly
packaging," he added.
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NITI Aayog, ABB join hands to make India AI-ready

NITI Aayog, ABB join hands to make India AI-ready

23 May 2018 | 4:07 PM

New Delhi, May 23 (UNI) NITI Aayog and ABB India have signed a Statement of Intent (SoI) to support the vision of “Make in India” through advanced manufacturing technologies that incorporate the latest developments in robotics and artificial intelligence.

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High ATF prices & fleet expansion to delay recovery in credit metrics of Airlines

23 May 2018 | 4:06 PM

New Delhi, May 23 (UNI) The gradual strengthening of global crude prices, along with the ongoing fleet expansion by domestic airline operators, is likely to put pressure on the airline industry’s debt protection metrics over FY19-FY20, says India Ratings and Research (Ind-Ra).

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Total 39-lakh net new jobs created between Sep’17 and Mar’18

23 May 2018 | 4:05 PM

New Delhi, May 23 (UNI) As per Employees' Provident Fund Organisation (EPFO) data, total net new jobs created were 39 lakhs for the period of September 2017 to March 2018.

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MobiKwik launches UPI on its platform

23 May 2018 | 3:57 PM

New Delhi, May 23 (UNI) Digital financial services platform MobiKwik on Wednesday announced the launch of Unified Payments Interface (UPI) on its platform via its own VPA (Virtual payment address) handle @ikwik, a statement said.

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