Group 1: Company Overview - Toyo Ink India, a subsidiary of the Japan-based artience group, plans to expand its liquid ink manufacturing capacity at its Gujarat facility, with operations expected to begin in 2028 [1] - The company entered the liquid ink business in 2011 through imports and began domestic manufacturing in 2013, adding the Gujarat facility in 2021 [2] - Founded in 2007 in Delhi, Toyo Ink India supplies inks, coatings, color materials, and related printing solutions to various industrial sectors [4] Group 2: Expansion Plans - The expansion is projected to increase the plant's liquid ink output to one-and-a-half times its current level, addressing the rising demand from India's packaging industry [1][3] - The decision to expand comes as the Gujarat plant is nearing full capacity amid surging demand in India [3] - The company aims to lead India's liquid ink market by scaling up capacity and strengthening its sustainable portfolio [4] Group 3: Market Context - The growth of India's middle-class population is expected to drive further expansion in the packaging sector, which will support higher consumption of liquid packaging inks [2]