India Rigid Plastic Packaging Market, By Product Type (Bottles & Jars, Trays & Containers, Tubs Cups & Pots, Caps & Closures, Rigid Bulk Products, Others); By Resin Type (PET, HDPE, PP, PVC, PS, EPS, Others); By Production Process (Extrusion, Injection Molding, Blow Molding, Thermoforming, Others); By Distribution Channel (Direct Sales, Distributors & Wholesalers, Converters & Contract Packagers, Online & B2B E-Commerce, Institutional & Government Supply, Others); By End-Use Industry (Food & Beverage, Pharmaceuticals & Healthcare, Personal Care & Homecare, Industrial); By Trend Analysis, Competitive Landscape & Forecast, 2021-2032

India Rigid Plastic Packaging Market: Sustainability Mandates, Food & Beverage Demand and Recycled-Content Innovation Power Structural Growth, Forecasts 2032

Report Description

Source: Market Research Outlook

Market Overview: India Rigid Plastic Packaging Market

The India rigid plastic packaging market size is witnessing rapid expansion, driven by accelerating packaged food and beverage demand, growing pharmaceutical and healthcare penetration, rising urbanization, expanding modern retail and e-commerce networks, increasing demand for lightweight and recyclable rigid formats, and major capacity additions by domestic converters. Valued at USD 12.9 billion in 2025 and projected to reach USD 22.1 billion by 2032, growing at a CAGR of 8.0%, the India rigid plastic packaging market growth is being fuelled by strong demand from food, beverage, and pharmaceutical brand owners, rising disposable incomes, and the rapid scaling of e-commerce and quick-commerce platforms across tier-1 and tier-2 cities. Bottles & jars lead consumption, while trays & containers and pharmaceutical packaging are emerging as the fastest growing categories. Shifting brand-owner preferences toward recycled content, growing sustainability awareness, and rising demand for tamper-evident, barrier-enhanced packaging are reshaping the supply landscape. As domestic majors including Manjushree Technopack, Time Technoplast, Mold-Tek Packaging, Reliance Industries, and Hitech Corporation expand integrated resin-to-shelf capacity, and global packaging brands including Alpla, Berry Global, and Amcor scale product pipelines, the India rigid plastic packaging market is evolving into a brand-led, sustainability-driven, and digitally enabled ecosystem with strong long-term growth potential.

Key Report Takeaways: India Rigid Plastic Packaging Market

• The India rigid plastic packaging market size is projected to grow from USD 12.9 billion in 2025 to USD 22.1 billion by 2032, registering a strong CAGR of 8.0%, driven by accelerated food & beverage and pharmaceutical demand, rising recycled-content adoption, and the structural shift toward sustainable rigid packaging across urban India.
• Bottles & jars dominate the India rigid plastic packaging market, accounting for over 35% of total volume in 2025, driven by strong demand from beverage, dairy, and pharmaceutical brands, the deep presence of converters such as Manjushree Technopack, Time Technoplast, and Mold-Tek, and rising urban demand across organized retail and e-commerce channels.
• Trays & containers and pharmaceutical packaging are emerging as the fastest growing segments in the India rigid plastic packaging market, expected to grow at 8% annually as e-commerce brands, healthcare companies, and quality-conscious FMCG players reshape sourcing strategies across metro and tier-1 markets.
• Rapid scaling of e-commerce and quick-commerce, with over 800 Indian cities served by organized delivery platforms by 2025 and rising further by 2030, is structurally expanding the India rigid plastic packaging market across modern retail, food & beverage, and online delivery categories.
• Rising investments by domestic converters such as Manjushree Technopack, Time Technoplast, Mold-Tek Packaging, Reliance Industries, and Hitech Corporation in recycling infrastructure, food-grade rPET capacity, and lightweight rigid formats are strengthening local supply and supporting the India rigid plastic packaging market forecast 2032.

Key Market Drivers: India Rigid Plastic Packaging Market

Rising Food & Beverage Consumption, Pharmaceutical Expansion, and Urbanization Driving Rigid Plastic Packaging Demand Across India

Growth in the India rigid plastic packaging market is being driven by rising packaged food and beverage consumption, expansion of the pharmaceutical sector, and rapid urbanization across tier-1, tier-2, and tier-3 cities. India’s urban population crossed 510 million in 2025, with urbanization rates climbing to 36% and projected to reach 40% by 2030. Fluid milk consumption reached 91 million tonnes in 2025, converting into consistent bottle and jar demand, while packaged food and beverage volumes continue to expand rapidly. India’s role as the leading global supplier of generic medicines and vaccines is driving strong demand for pharmaceutical bottles, vials, and child-resistant closures. Per-capita rigid plastic packaging consumption in India remains well below developed-market levels, indicating significant long-term headroom for growth. Rising youth population, with over 65% of Indians below age 35, growing e-commerce penetration, and expanding organized retail are creating strong structural pull-through demand across the India rigid plastic packaging market.

Growing Disposable Incomes, E-Commerce Growth, and Shifting Consumption Patterns Fuelling Premium Rigid Packaging Adoption

The India rigid plastic packaging market is benefiting from sustained growth in disposable incomes, with per-capita income rising by over 70% between 2014 and 2024 according to MOSPI, alongside continued efficiency gains in extrusion, injection molding, and blow molding processes. Extrusion dominates production with a 68% share, supporting cost-effective manufacturing of bottles and containers, while injection molding is expanding fastest. Domestic polymer processing capacity has scaled rapidly, led by Reliance Industries, Manjushree Technopack, Time Technoplast, Mold-Tek Packaging, and Hitech Corporation. BIS quality standards, FSSAI food-contact norms, and growing brand-owner trust in recyclable rigid formats have further strengthened organized supply, supporting cost competitiveness across the India rigid plastic packaging market. E-commerce and quick-commerce channels now account for a rising share of packaging demand, with brand owners increasingly preferring durable, tamper-evident, and stackable rigid formats for last-mile delivery.

Product Innovation in Lightweight, Recyclable, and Barrier-Enhanced Rigid Packaging Strengthening Organized Segment Growth

Rapid growth in lightweight, recyclable, and barrier-enhanced rigid packaging is a major catalyst for the India rigid plastic packaging market, with the recycled-content segment projected to grow at 15% annually through 2032. Government Extended Producer Responsibility rules mandating 30% recycled content in rigid plastics from 2025, rising to 60% by 2029, are creating strong demand for food-grade rPET and rHDPE. Sustainability-focused brand-owner behavior, science-based packaging targets, and growing circular-economy awareness are driving large FMCG and pharmaceutical buyers toward recycled and mono-material rigid packaging. New molding technologies such as injection stretch blow molding and thermoforming are enabling lightweight yet robust containers with complex shapes and precise dimensions. Leading innovators such as Manjushree Technopack, Reliance Industries, Chemco Group, UFlex, and Alpla have scaled recycled and lightweight rigid packaging pipelines, with bioplastic PLA capacity of 75,000 tonnes coming onstream by 2026. Government sustainability programs combined with corporate ESG-led procurement are structurally expanding India rigid plastic packaging market growth across all major end-use categories through 2032.

Key Market Challenges: India Rigid Plastic Packaging Market

Environmental Regulations, Single-Use Plastic Concerns, and EPR Compliance Costs Limiting Virgin Plastic Use

The India rigid plastic packaging market continues to face challenges around environmental regulations and single-use plastic concerns, with government EPR rules mandating 30% recycled content in rigid plastic packs from 2025. While recycled-content reforms and growing demand for sustainable packaging have improved compliance transparency, food-grade rPET supply in India remains constrained to only five licensed recyclers, reflecting bottlenecks in collection, segregation, and de-contamination infrastructure. Regulators continue to tighten norms on single-use and non-recyclable plastics, while lightweight, mono-material, and reusable rigid packaging formats remain underdeveloped in smaller markets. India’s continued dependence on virgin polymer imports limits cost competitiveness among small and medium converters across the India rigid plastic packaging market.

Recycling Infrastructure Gaps and Food-Grade rPET Supply Constraints Across Tier-2 and Tier-3 Cities

The India rigid plastic packaging market faces structural complexity from variations in recycling coverage, collection density, and food-grade rPET availability across different regions. While metros such as Delhi, Mumbai, Bengaluru, Chennai, and Hyderabad have well-established collection and recycling frameworks, others maintain limited segregation and de-contamination infrastructure. Only five licensed Indian recyclers can currently supply food-grade rPET at scale, making compliant recycled material a key bottleneck for beverage and dairy brands. Differential availability of collection networks, wash lines, and de-contamination units across states creates operational complexity for converters such as Manjushree Technopack, Time Technoplast, Mold-Tek, and Hitech Corporation operating pan-India. While EPR credits and government schemes have improved economics, infrastructure fragmentation remains a near-term challenge for the India rigid plastic packaging market.

Volatility in Polymer Resin Prices and Energy Costs Impacting Overall Rigid Packaging Margins

The India rigid plastic packaging market faces practical constraints around polymer price volatility, energy cost inflation, and margin compression across the value chain. Polypropylene prices moved around USD 980 per tonne CFR in early 2025, while PET and HDPE input costs have risen over recent years. Smaller converters face additional complexity in passing through cost increases without losing volume. Average gross margins for rigid plastic packaging in India range around 28%, reducing the effective profitability of new launches. Recycled resin, lightweighting, and mono-material design are emerging as solutions to differentiate, but food-grade rPET premiums and limited collection infrastructure remain barriers to widespread adoption across the India rigid plastic packaging market.

Key Market Trends: India Rigid Plastic Packaging Market

Rapid Adoption of Recycled PET, HDPE, and Bio-Based Rigid Plastics in India

The India rigid plastic packaging market is undergoing a clear technology shift toward recycled PET, HDPE, and bio-based rigid plastics, with these advanced materials expected to capture over 30% of new rigid packaging launches by 2027. Recycled PET and HDPE deliver carbon savings of 40% to 60% compared with virgin resin, while bio-based PLA offers compostability for food-contact applications. Leading domestic and global players including Manjushree Technopack, Reliance Industries, Chemco Group, UFlex, and Alpla have scaled recycled and food-grade rPET production capacity through 2024 and 2025. Lightweight, mono-material, and design-for-recycling packaging with improved barrier properties are also gaining traction, particularly in metro cities such as Mumbai and Bengaluru where sustainability-focused brand owners are rising, with converters offering rPET bottles, thin-wall containers, and tethered closures for eco-conscious buyers. This material transition is reinforcing the India rigid plastic packaging market forecast 2032 across both consumer and industrial categories.

Growth of E-Commerce, Quick-Commerce, and Direct-to-Consumer Distribution in the India Rigid Plastic Packaging Market

A clear shift toward e-commerce, quick-commerce, and direct-to-consumer distribution models is reshaping the India rigid plastic packaging market, particularly in the urban and metro segment. Under quick-commerce platforms such as Blinkit, Zepto, Instamart, and BigBasket, packaged goods in rigid formats are delivered within 10 to 20 minutes, driving demand for impact-resistant, tamper-evident packs. Leading e-commerce platforms including Amazon, Flipkart, and Reliance Retail have built combined operational reach exceeding 800 Indian cities, with rigid bottles, jars, and containers ranking among the most-used packaging formats. E-commerce packaging demand in India is expanding at 15% annually, reducing effective distribution costs and accelerating rigid packaging adoption across both retail and quick-commerce segments of the India rigid plastic packaging market. By 2025, online channels account for a rising share of rigid packaging demand, up sharply from 2020, with brand owners increasingly preferring durable rigid formats for last-mile delivery.

Capacity Expansion by Domestic Converters and Sustainable Packaging Investments

A wave of domestic capacity expansion and sustainable packaging investments is reshaping the India rigid plastic packaging market supply landscape. Combined India-focused capital expenditure announcements in resin processing, recycling, and rigid packaging exceeded USD 1.2 billion across 2023 to 2025, with recycling investments alone crossing INR 10,000 crore since 2022. Manjushree Technopack expanded preform and caps & closures capacity beyond 15 billion pieces, Chemco Group and Kandoi Group announced an INR 450 crore recycling joint venture in Gujarat, Time Technoplast scaled industrial packaging, Mold-Tek commissioned a new Chennai plant, and Reliance Industries grew recycled polymer capacity. EPR recycled-content mandates, Production Linked Incentive allocations, and rising ESG-led procurement have structurally favoured organized supply. Combined with e-commerce driving packaging demand and quick-commerce procurement scaling rapidly, these developments are reinforcing the India rigid plastic packaging market forecast 2032 across the entire value chain.

Segmental Insights: India Rigid Plastic Packaging Market

By End-Use Industry: Food & Beverage Segment Dominates the India Rigid Plastic Packaging Market

The food & beverage end-use segment dominates the India rigid plastic packaging market, accounting for an estimated 40% of total volume, driven by rising packaged food consumption, dairy bottling, edible oil demand, and improving cold-chain economics. Bottles, jars, and containers are the dominant formats within this segment, with PET and HDPE accounting for over 72% of food & beverage rigid packaging demand. The pharmaceuticals & healthcare segment contributes another 25% of demand, driven by generic drug exports, vaccine vials, and child-resistant closures. The personal care & homecare segment accounts for 20%, led by cosmetics, detergents, and household cleaning packaging. In 2025, leading converters including Manjushree Technopack, Time Technoplast, Mold-Tek, and Hitech Corporation scaled up food, beverage, and pharmaceutical packaging deployment under FMCG and healthcare expansion, reinforcing segment dominance in the India rigid plastic packaging market.

By Product Type: Bottles & Jars Lead While Trays & Containers and Pharmaceutical Packs Grow Fastest

Bottles & jars lead the India rigid plastic packaging market product landscape, accounting for approximately 35% of total rigid packaging volume, driven by strong beverage, dairy, and pharmaceutical demand, deep converter presence, and improving cost economics. Caps & closures and tubs, cups & pots together contribute another 30%, primarily across food, beverage, and personal care applications. Trays & containers and pharmaceutical packaging are the fastest growing categories within the India rigid plastic packaging market, expanding at 7% annually, driven by ready-to-eat food demand, generic drug exports, and growing adoption in healthcare and premium retail segments. Rigid bulk products such as drums, pails, and IBCs account for the remaining share, serving industrial and chemical end-users. Leading domestic manufacturers including Manjushree Technopack, Time Technoplast, Mold-Tek Packaging, Reliance Industries, and Hitech Corporation have aligned product portfolios to this product mix, driving sustainable rigid packaging adoption across the India rigid plastic packaging market.

Regional Insights: India Rigid Plastic Packaging Market

Regional analysis of the India rigid plastic packaging market shows that West India and South India collectively account for approximately 61% of total rigid packaging volume, driven by Gujarat (petrochemical and converter hub), Maharashtra (Mumbai and Pune industrial belt), Tamil Nadu (Chennai manufacturing belt), Karnataka (Bengaluru FMCG market), and Telangana, supported by strong polymer supply chains and industrial consumption. North India contributes around 24% of demand, led by Delhi NCR, Punjab, Haryana, and Uttar Pradesh, supported by FMCG, pharmaceutical, and e-commerce packaging adoption in metro and tier-1 clusters around Delhi, Gurugram, and Noida. Central and East India together account for 15% of demand, supported by Madhya Pradesh, West Bengal, Bihar, and Odisha, where modern retail and food processing are accelerating. In 2025, capacity additions and operations by Manjushree Technopack, Reliance Industries, Time Technoplast, Mold-Tek, and Hitech Corporation across Gujarat, Maharashtra, Tamil Nadu, and Telangana reinforced regional supply hubs, supporting closer execution of FMCG and pharmaceutical packaging projects across the India rigid plastic packaging market.

Recent Developments: India Rigid Plastic Packaging Market

• The India rigid plastic packaging market witnessed strong momentum in launches and capacity progress during 2024 and 2025. India added a record 480 new rigid packaging product lines in calendar year 2025, representing a 38% year-on-year increase from 348 in 2024, according to industry tracking. E-commerce and quick-commerce platforms recorded strong double-digit growth in rigid packaging demand by mid-2025, with the bottles & jars segment accounting for 71% of new food-grade orders. Cumulative organized rigid packaging output in India is projected to reach 5.8 million tonnes by FY27 from 4.9 million tonnes in FY25, growing at an average 9% annually.
• Domestic converters have deepened India-focused capacity expansion. In 2025, Manjushree Technopack scaled preform and caps & closures capacity beyond 15 billion pieces, Chemco Group and Kandoi Group announced an INR 450 crore joint venture in Gujarat to recycle over 10 million PET bottles daily, Time Technoplast expanded industrial packaging capacity, Mold-Tek commissioned a new plant at Cheyyar near Chennai, and Reliance Industries grew its recycled polymer portfolio. UFlex launched an FSSAI-approved single-pellet rPET option in 2025. These developments are strengthening domestic supply and supporting the India rigid plastic packaging market forecast 2032.
• Sustainability and EPR-driven momentum has gained strong traction in the India rigid plastic packaging market. In 2025, leading brand owners including Hindustan Unilever, Dabur, Coca-Cola, PepsiCo, and Amul expanded recycled-content packaging adoption, while Dabur committed USD 66 million to capacity expansion in Madhya Pradesh. Strategic partnerships between converters and FMCG brands are positioning India as one of the most actively scaling rigid packaging markets globally, strengthening long-term competitive positioning in the India rigid plastic packaging market forecast 2032.

Key Market Players: India Water Dispenser Market

• Manjushree Technopack Limited
• Time Technoplast Limited
• Mold-Tek Packaging Limited
• Reliance Industries Limited
• Hitech Corporation Limited
• EPL Limited (Essel Propack)
• Pearl Polymers Limited
• Chemco Plastic Industries Private Limited
• The Supreme Industries Limited
• Alpla India Private Limited
• Berry Global India Private Limited
• Amcor Rigid Packaging India Private Limited
• National Plastic Industries Limited

Report Scope

In this report, the India Rigid Plastic Packaging Market has been segmented into the following categories, in addition to detailed analysis of key industry trends, market dynamics, competitive landscape, and growth opportunities across the forecast period:

• By Product Type
• Bottles & Jars
• Trays & Containers
• Tubs, Cups & Pots
• Caps & Closures
• Rigid Bulk Products (Drums, Pails & IBCs)
• Others
• By Resin Type
• Polyethylene Terephthalate (PET)
• High-Density Polyethylene (HDPE)
• Polypropylene (PP)
• Polyvinyl Chloride (PVC)
• Polystyrene (PS)
• Expanded Polystyrene (EPS)
• Others (Bioplastics)
• By Production Process
• Extrusion
• Injection Molding
• Blow Molding
• Thermoforming
• Others
• By Distribution Channel
• Direct Sales (Brand Owners & OEMs)
• Distributors & Wholesalers
• Converters & Contract Packagers
• Online & B2B E-Commerce
• Institutional & Government Supply
• Others
• By End-Use Industry
• Food & Beverage
• Pharmaceuticals & Healthcare
• Personal Care & Homecare
• Industrial
• By Geography
• North India
• South India
• West India
• East India
• Central India

Competitive Landscape

Company Profiles:

Detailed analysis of the leading companies operating in the India Rigid Plastic Packaging Market, including business overview, product portfolio, financial performance, and strategic developments.

Company Information

Detailed profiling and strategic analysis of additional market players (up to five companies), including emerging domestic dispenser brands, specialty bottle-less and RO/UV dispenser producers, regional appliance players, or niche institutional supply brands.

The India Rigid Plastic Packaging Market report is part of our ongoing research coverage. For early access, customised insights, or to discuss a tailored scope, please connect with our research team.

Table of Contents

• Research Framework
• Market Segmentation
• Research Objective
• Research Methodology
• Qualitative Research
• Primary Research
• Secondary Research
• Quantitative Research
• Market Breakdown & Data Triangulation
• Demand Side
• Supply Side
• Primary Research Respondents
• Assumption & Limitation
• Executive Summary
• Market Overview, 2021-2032
• By Product Type
• By Resin Type
• By Production Process
• By Distribution Channel
• By End-Use Industry
• By Region
• Analyst Recommendations
• Geopolitical Impact on India Rigid Plastic Packaging Market
• India Rigid Plastic Packaging Market Insights
• Market Dynamics
• Growth Drivers
• Rising food & beverage consumption, pharmaceutical expansion, and urbanization driving rigid plastic packaging demand across India.
• Growing disposable incomes, e-commerce growth, and shifting consumption patterns fuelling premium rigid packaging adoption.
• Product innovation in lightweight, recyclable, and barrier-enhanced rigid packaging strengthening organized segment growth.
• Restraints
• Environmental regulations, single-use plastic concerns, and EPR compliance costs limiting virgin plastic use across India.
• Recycling infrastructure gaps and food-grade rPET supply constraints restricting rigid packaging across tier-2 and tier-3 cities.
• Volatility in polymer resin prices and energy costs impacting overall rigid plastic packaging margins.
• Opportunities
• Recycled PET, HDPE, and bio-based rigid packaging innovation opening untapped brand-owner pools across metro cities.
• Lightweight, mono-material, and barrier-enhanced rigid packs supporting next-generation growth in food, beverage, and pharmaceutical segments.
• E-commerce platforms, quick-commerce, and modern retail expansion creating massive rigid packaging distribution opportunities.
• Challenges
• Intense competition from unorganized local converters, informal recyclers, and small rigid packaging vendors.
• Limited collection infrastructure and inconsistent food-grade rPET supply across smaller Indian cities.
• Maintaining quality, barrier performance, and recycled-content compliance at scale across diverse Indian regional markets.
• Technological Advancements
• Recent Technological Advancements
• Prior to 2020
• Porter’s Five Forces Analysis
• PESTLE Analysis
• Industry Value Chain & Entry Points
• Upstream Raw Materials (PET, HDPE, PP, PVC resins, masterbatch, additives, colourants, recycled pellets)
• Rigid Packaging Manufacturers (Manjushree Technopack, Time Technoplast, Mold-Tek, Reliance, Hitech Corporation)
• Resin & Polymer Suppliers (Reliance, IOCL, Haldia Petrochemicals, GAIL, imported virgin and recycled resins)
• Recyclers & rPET Suppliers (post-consumer PET collection, wash lines, food-grade rPET pellets)
• Quality Control, R&D & Testing Laboratories (BIS, FSSAI, CIPET, ISO food-contact standards)
• Converters, Distributors & Modern Trade (B2B and contract-packaging distribution networks)
• Brand Owners & FMCG Fillers (Hindustan Unilever, Dabur, Coca-Cola, PepsiCo, Amul)
• Pharmaceutical & Personal Care Buyers (Sun Pharma, Cipla, Marico, Godrej Consumer)
• Retail Channels & E-Commerce (Reliance Retail, DMart, Amazon, Flipkart, BigBasket)
• End-Users (households, food & beverage brands, pharma companies, industrial buyers)
• India Rigid Plastic Packaging Market: Regulatory Framework
• India Rigid Plastic Packaging Market Overview
• Market Size & Forecast, 2021-2032
• By Value (USD Billion)
• By Volume (Kilo Tonnes)
• Market Share & Forecast
• By Product Type
• Bottles & Jars
• Trays & Containers
• Tubs, Cups & Pots
• Caps & Closures
• Rigid Bulk Products (Drums, Pails & IBCs)
• Others
• By Resin Type
• Polyethylene Terephthalate (PET)
• High-Density Polyethylene (HDPE)
• Polypropylene (PP)
• Polyvinyl Chloride (PVC)
• Polystyrene (PS)
• Expanded Polystyrene (EPS)
• Others (Bioplastics)
• By Production Process
• Extrusion
• Injection Molding
• Blow Molding
• Thermoforming
• Others
• By Distribution Channel
• Direct Sales (Brand Owners & OEMs)
• Distributors & Wholesalers
• Converters & Contract Packagers
• Online & B2B E-Commerce
• Institutional & Government Supply
• Others
• By End-Use Industry
• Food & Beverage
• Pharmaceuticals & Healthcare
• Personal Care & Homecare
• Industrial
• By Geography
• North India
• South India
• West India
• East India
• Central India
• Competitive Landscape
• India Rigid Plastic Packaging Market Company Market Share Analysis, 2025
• Competitive Benchmarking, By Operating Parameters
• Key Strategic Development (Mergers, Acquisitions, Partnerships, Etc.)
• List of Emerging Players
• Company Profile
• Manjushree Technopack Limited
• Introduction & Company Profile
• Product Benchmarking
• Strategic Outlook
• Key Competitors
• Financial Analysis
• SWOT Analysis

(Same Data Pointers Will Be Provided for The Below Companies)

• Time Technoplast Limited
• Mold-Tek Packaging Limited
• Reliance Industries Limited
• Hitech Corporation Limited
• EPL Limited (Essel Propack)
• Pearl Polymers Limited
• Chemco Plastic Industries Private Limited
• The Supreme Industries Limited
• Alpla India Private Limited
• Berry Global India Private Limited
• Amcor Rigid Packaging India Private Limited
• National Plastic Industries Limited
• Other Prominent Players

* Financial information in case of non-listed companies will be provided as per availability

** The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable