New Delhi, Feb 3 (PTI) – The Union Budget’s emphasis on manufacturing and Micro, Small & Medium Enterprises (MSMEs) is set to drive demand for paper and packaging materials across various sectors, offering a significant boost to India’s paper industry, the Indian Paper Manufacturers Association (IPMA) stated on Monday.
In an official statement, IPMA highlighted that the Budget’s strong focus on consumption, manufacturing, and sustainability aligns well with the growth trajectory of the paper sector in the country.
“The industry appreciates the government's continued focus on economic growth, which directly impacts the demand for paper and packaging materials across multiple industries,” said IPMA President Pawan Agarwal.
The Budget’s push for the manufacturing sector, particularly MSMEs, is expected to fuel greater demand for paper-based packaging, an eco-friendly alternative to single-use plastic, the association added.
Additionally, policy measures aimed at promoting recycling and encouraging the use of sustainable raw materials will further reinforce the paper industry’s commitment to fostering a circular economy.
Addressing Key Industry Concerns
While welcoming the pro-growth initiatives, IPMA also urged the government to resolve critical industry concerns, including the domestic availability of raw materials such as wood and recovered paper. The association also called for a revision in the basic customs duty (BCD) on paper and paperboard imports to ensure fair competition for domestic manufacturers.
According to data from the Department of Commerce, imports of paper and paperboard from China have surged by 44% in the first half of the current fiscal year, raising concerns among local manufacturers.
With the government’s continued emphasis on industrial growth and sustainability, the paper industry anticipates a positive shift in demand dynamics, reinforcing its role in the evolving manufacturing landscape.
In an official statement, IPMA highlighted that the Budget’s strong focus on consumption, manufacturing, and sustainability aligns well with the growth trajectory of the paper sector in the country.
“The industry appreciates the government's continued focus on economic growth, which directly impacts the demand for paper and packaging materials across multiple industries,” said IPMA President Pawan Agarwal.
The Budget’s push for the manufacturing sector, particularly MSMEs, is expected to fuel greater demand for paper-based packaging, an eco-friendly alternative to single-use plastic, the association added.
Additionally, policy measures aimed at promoting recycling and encouraging the use of sustainable raw materials will further reinforce the paper industry’s commitment to fostering a circular economy.
Addressing Key Industry Concerns
While welcoming the pro-growth initiatives, IPMA also urged the government to resolve critical industry concerns, including the domestic availability of raw materials such as wood and recovered paper. The association also called for a revision in the basic customs duty (BCD) on paper and paperboard imports to ensure fair competition for domestic manufacturers.
According to data from the Department of Commerce, imports of paper and paperboard from China have surged by 44% in the first half of the current fiscal year, raising concerns among local manufacturers.
With the government’s continued emphasis on industrial growth and sustainability, the paper industry anticipates a positive shift in demand dynamics, reinforcing its role in the evolving manufacturing landscape.
