Formujet Plans to Add More Partners, Enhance Reach to T2, T3 & T4 Cities, Continue Focus on Make in India and to Further Consolidate its Leadership Position

Formujet (the brand of Indigo Prints Smart Pvt Ltd), founded in 2008 in Mumbai, is a leading provider of a wide range of imaging consumables in India. The company also manufactures and provides mono-toner cartridges and other consumables as a part of their Make in India initiative. In an interaction with the Imaging Solution magazine, Mr. Shashank Ruiwale, President, Indigo Prints Smart Pvt Ltd, with over 30 years of experience, shares about their brand policy, manufacturing strategy and future plans.

Talking about their launches in 2025, Mr. Ruiwale briefs, “In 2025, we launched several premium quality variants of black and color toner cartridges for HP, Brother and Canon copier machines. We also launched several variants of premium quality inks for Epson, HP and Canon inkjet printers which are receiving very good response from the partners and customers.” Formujet has taken up brand promise as “Next To Original”, committed to deliver enriching experience to customers.

Formujet has a wide range of over 2000 different products in our portfolio to meet the needs of various types of printers, copiers and users; and a well-equipped R&D and testing department manned by qualified professionals to continuously upgrade and update the products in terms of quality, consistency, durability, and page yield.

“For us at Formujet, OEM-quality is the benchmark; our fundamental principle is to provide products with the best quality, consistency, and high customer satisfaction, all at reasonable prices to the users. In addition, we continuously address the concerns of our partners and customers at different levels. Our product portfolio can be divided into 4 verticals in the market – office digital printing, digital photo printing, textile printing, and gifting & novelties. Due to the increasing penetration of PCs, home printers, etc, there has been steady growth in the printer consumables market in India, opening fresh opportunities”, adds Mr. Ruiwale.

Formujet’s product range includes toner powders and cartridges for printers and copiers,  inkjet inks, sublimation inks, photo inks, Continuous Ink Tank Printer Inks , industrial inkjet printing products, jumbo cartridges, large format printer inks, large format printer cartridges, vacuum toner cleaning machines, inkjet cartridge refilling machines, inkjet accessory kits, dot matrix ribbons & refill ink packs, OPC drums, doctor blades, sublimation heat-press, ID cards and dragon sheets, Inkjet Glossy and Matte Photo Papers, PVC inkjet sheets, etc. 

About the Make in India program, Mr. Ruiwale elaborates, “Make in India is a ground-breaking initiative by the government of India which enables domestic and foreign players to set up manufacturing plants in India, reduce dependence on imports, provide employment to the local population and prevent the flight of foreign currency. In the initial stages, there are bound to be challenges of shortage of components, cost issues due to low volumes of production, low acceptance by the market, etc, but within a few years, I am sure making in India will become a trend. In 2024, we started manufacturing mono-toner cartridges in India in limited quantities and in future we will scale up the production. In the future, we are planning to manufacture more products in India and reduce imports gradually.” 

Talking about the new trends in the imaging industry and their future plans, Mr. Ruiwale comments, “New innovations, such as using toners in the textile and ceramic industries, and the increasing usage of inks in the industries, in addition to printing on paper, are opening new opportunities to the suppliers. I would say the opportunities are continuously growing. In 2026; we will focus more on promoting and delivering the several variants of color & black toners for copiers and inks for different models which we recently launched. We will gradually increase the share of products we manufacture In India. Next, we want to add more partners to our network, extend our reach to T2, T3 and T4 cities and new regions, in addition to our focus on T1 market, and consolidate our position in the market and continue to maintain our leadership presence.”

Covered By: Imaging Solution / Formujet

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