Japan based stationery major to invest $5 million in India.

Japan's leading stationery manufacturer Shachihata Inc is set to invest $5 dollars in India through its Artline India brand. The company announced its foray into Indian market in January this year and launched over 80 products in April in school and office stationery segments.

The company is targeting 15% market share in the stationery segment in next three years. The company is initially producing stationery products for the domestic market from its Chennai based plant and plans to set up more manufacturing units in the country.

'Gujarat and Japan share a special bond and we are looking Gujarat as a potential location to set up our manufacturing unit,' said Anup Rana, MD, Shachihata (India) Pvt Ltd. Rana further said that the company is also planning India to be the new hub for its exports within Shachihata group.

The Indian stationery market is currently growing at the rate of 10-12% every year and is worth Rs. 7000 crore of which color materials alone constitute Rs. 600 crore other than pen, pencil and geometry boxes among others.


TOI