New Delhi, Nov 14 (IANS): The Indian printing industry will reach nearly $20.9 billion by 2015, a government official said Thursday at the ninth edition of the international exhibition on printing and allied machinery industries (PAMEX 2013) which was inaugurated at Greater Noida near here.

The event, which is being supported by various central government ministries, was inaugurated by Commerce and Industry's Minister of State (MoS) E.M.S. Natchiappan.

"India is poised to be number one in the world for printing by 2015. The country's printing market, currently valued at $12.1 billion, is projected to reach $20.9 billion by 2015," Natchiappan said at the inauguration.

The event is hosting about 258 exhibitors from 22 countries with approximately 26,000 visitors.

With the exponential growth, the organisers expect India to become the largest printing market by 2015 aided by low-cost production and ready-to-adopt new technology.

The event is also being supported by the Indian Newspaper Society (INS) and the Federation of Indian Publishers. It is the only dedicated international exhibition for the industry organised in Asia.