Greater Noida, Nov 14 (IANS): A record 263 exhibitors from 22 countries are taking part in the four-day 9th International Exhibition of printing and allied machinery industry (PAMEX 2013) that began here Friday.

The exhibition was inaugurated by Minister of State for Commerce and Industry E.M.S. Natchiappan in the presence of senior Indian government officials. PAMEX is said to be the only dedicated international event for the printing and allied machinery industries in Asia.

Addressing a press conference later, Natchiappan said: "India is poised to be the number one in the world for printing by 2015."

He said where the world was showing a decline in the growth and performance, India was forging ahead because of low cost and ready to adopt new technology.

"The country's printing market, currently valued at US$12.1 billion, is projected to reach US$20.9 billion by 2015," he said.

A.M.S.G. Ashokan, president, All India Federation of Master Printers, on this occasion said: "Pamex 2013 is hosting 263 exhibitors from 22 countries across the world. The ink's market is estimated to be US$356 million and is projected to grow by 78 percent. The substrates market is pegged at US$4000 million and has a phenomenal growth projection of 72 percent and the market would thus be close to US$7000 million. The other consumables market, which today stands at US$155 million, is also expected to witness tremendous growth of almost 70 percent."

Pamex 2013 chairman S.R. Sharma said, "With the support of over 250,000 members from all over India, PAMEX 2013 shall attract quality footfalls from India and neighbouring countries with over 300 focused exhibitors, including ancillary suppliers spread over 15,000 sq. metres and over 40,000 visitors gracing the occasion."

PAMEX 2013 International Expo is being held Nov 14-17 at the India Expo Centre and Mart, Greater Noida Expressway.