Naveen Rakhecha

Globally the printer cartridges industry is said to be about a $101 billion
industry. In India, industry estimates reflect that printer consumables are a Rs
2,500+ crore opportunity growing at over 30 percent YoY with no saturation point
in view in the distant future.

India is tipped to become the largest Internet using country in the world by
2010. This will further boost the printer and printer cartridges industry; after
all 61 percent of printing activity is globally attributed to the Internet.

The Indian market was earlier polarized. OEMs were offering quality at a high
price and the largely unorganized refill market was offering cheap but poor
quality alternatives. Ink, which is an engineered product, was being treated as
colored water and cartridges as merely containers. Quality suffered because of
the use of generic raw material and processes. There was a distinct need for
'OEM quality affordable price option'. Cartridge World offers to its customer's
refills with comparable quality at a fraction of the cost of OEM cartridges.

Naveen Rakhecha CEO

The industry faces a lot of challenges for survival. One might see the
gradual phasing out of the unorganized segment. Scientific processes, raw
material and the use of technology will become a necessity for the after market
industry to overcome the barriers. This will call for substantial investments to
be made by all players in the market. Growth in color cartridges is imperative.

Slowdown is bringing in business. At Cartridge World the slowdown has
catalyzed our growth process. Even the staunchest 'OEM only' user is now ready
to give us a chance as cost cutting becomes imperative. The presence of a
globally established brand which offers guaranteed service helps them take this
first step more reassuringly.

On the franchisee front as the sentiments settle down people are beginning to
realize that fortunes will not be made at the stock or realty market and they
need to get down to conducting fundamentally strong businesses. Many senior
managers are turning entrepreneurs as the job market hits a low and uncertainty
looms large. With an established brand, system and a business concept which is
certain to thrive in this economic meltdown situation, at our disposal, we are
upbeat and all set to make the most of it.

Cartridge World is into the business of helping customers to print better and
at huge savings. Refilling is a scientific process and involves micro
manufacturing and engineering. Refilling in India takes place in the 'drill &
fill' way and most of the times, the same ink/toners are used to refill any and
every cartridge brand and make. This can not only severely damage the cartridge
but also the printer. But at Cartridge World, we use cartridge specific OEM like
ink, toner, parts and refilling processes to ensure that customers get OEM like
output both in print quality as well as yield. At the same time we respect the
OEMs patents and ensure that we do not in anyway impinge them.

Currently Cartridge World is aiming to establish over 250 stores across the
Indian sub-continent by 2011. Through these stores and our local franchise
partners we aim to not only help customers save money without compromising on
quality but also provide an environment friendly solution to the problem of
waste disposal.