Paper industry, represented by Indian Paper Manufacturers Association (IPMA), hailed the Union Budget, as it lays a strong emphasis on boosting consumption, manufacturing and sustainability, which aligns well with the growth of the paper industry in India.
The industry appreciates the government’s continued focus on economic growth, which has a direct bearing on the demand for paper and packaging materials across multiple sectors”, said Pawan Agarwal, President, IPMA.
The Budget’s thrust on the manufacturing sector, including MSMEs, will contribute to increased demand for paper-based packaging, an eco-friendly alternative to single-use plastic. Policy incentives aimed at encouraging recycling, and the use of sustainable raw materials will further strengthen the paper industry’s commitment to a circular economy.
“While we welcome these measures, we also urge the government to address concerns related to domestic availability of raw materials, including wood and recovered paper, as well as the need for suitably increasing the basic customs duty on import of paper and paperboard to provide domestic manufacturers a level playing field”, Agarwal said.
Quoting data released by the Commerce Department, he said imports of paper and paperboard from China have shown a significant jump of 44 per cent during the first half of the ongoing fiscal year.
Overall, however, the Budget provides a positive direction for industries aligned with sustainability and manufacturing growth, and the paper industry looks forward to working alongside the government in contributing to India’s economic and environmental goals.