The Authentication Solution Providers’ Association (ASPA), India’s leading industry body for authentication and traceability solutions, has announced its newly elected board members for the 2025–2027 term. The appointments were confirmed at ASPA’s annual general meeting (AGM), held on 11 September in New Delhi.
The newly elected board members are:
In addition, the governing body co-opted two senior members to strengthen its leadership:
Ankit Gupta.
'it is an absolute honour to lead ASPA alongside such an inspiring governing body. The next two years will be a journey of learning, growth, collaboration, and strong advocacy for our cause,’ said Ankit Gupta.
He paid tribute to ASPA’s long-standing leaders and mentors, thanking Manoj Kochar (Holoflex), Luv Shiram (Shriram Veritech), and many others who have guided ASPA’s path for over 25 years. Above all, he paid tribute to his late father, U K Gupta, recipient of the International Hologram Manufacturers Association Brian Monaghan Award for Business Innovation.
‘It is because of him that I have the platform of Holostik and ASPA today. I am sure he must be smiling, seeing life come full circle – from him serving as ASPA President to me now taking on this role. I feel truly grateful and blessed.’ Anik Gupta urged all to work together to make the world a safer and counterfeit-free place.
A key highlight of the AGM was the release of ASPA’s first-ever industry report on the authentication and traceability (A&T) market in India, developed in collaboration with Accenture.
Based on survey responses from 36 ASPA members and stakeholders, the study provides a structured forecast of the industry’s growth trajectory. According to the report, the Indian A&T industry is currently valued at £811 million for FY 23-24 and is expected to grow at a CAGR of 11.3%, reaching £886 million in FY 24-25, and £1.384 billion by FY 2829.
India is a significant market for holography, which is widely used in sectors such as pharmaceuticals, automotive, identity and tax stamps. For example, as at the end of 2023, over 134.5 million holographic security registration plates had been installed on vehicles. And India leads globally in tax stamps, issuing 35-40 billion alcohol tax stamps annually, of which about 60% are holographic polyester labels, with many others featuring holographic optical stripes.
This milestone report marks an important step for India’s authentication industry, which has long lacked a consolidated assessment of its true size and potential. The findings will support policy advocacy at the government level, provide critical insights for investors, and raise the visibility of the sector, both in India and internationally.
