Financial Daily from THE HINDU group of publications
Friday, Apr 30, 2004
Financial Daily from THE HINDU group of publications Friday, Apr 30, 2004 |
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Industry & Economy
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Paper, Board & Newsprint India, China to lead Asian paper industry growth Our Bureau
New Delhi , April 29 THE Asian paper industry is all set for an explosive growth. And this growth, according to Mr Gautam Thapar, Vice-Chairman and Managing Director, Ballarpur Industries Ltd (BILT), will be predominantly led by India and China. In his keynote address to the international paper industry at the `Asian Paper Show' in Singapore recently, Mr Thapar said that the Asian share of world growth in gross domestic product (GDP) would be higher than the global average for the next decade. This, he said, was a healthy sign for demand growth in the region and also the platform for creating an exciting paper industry. According to industry experts, over the next 10 years, investments in excess of $40 billion for paper and paperboard are likely to be made in the Asian region. The major beneficiaries are expected to be China and India. Commenting on this, Mr Thapar said: "While China must guard against over capacities, the only other country, which will show any real growth of consumption in Asia, will be India, where demand is expected to grow to about 15 million tonnes (mt) from the current level of 6.5 mt in the next 10 years." Mr Thapar, however, cautioned against over optimism in the absence of concerted efforts to resolve the issue of fibre supply in Asia and in India, in particular. Terming it "a necessity if the promise of growth is to be maintained", he highlighted the acute need for a public-private partnership in the forestry sector. He stressed on the need for a robust economic infrastructure, both physical as well as fiscal, as imperative to the growth of investment in the paper sector. Citing the problem of plenty in the Chinese economy, he highlighted the need to match the current growth in Indian industry with an impetus to the agro-forestry sector. The Asian Paper Show, the leading management meeting for the Asian pulp and paper industry, is held once in every two years in Singapore and is attended by around 200 executives, managers, producers, buyers, traders, suppliers, financial analysts, bankers and newspersons from all over the world. It is designed to give meaningful insight into the future direction of the Asian pulp and paper industry and to explore various issues and factors that can help or hinder the development of its potential.
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