Indian Paper Industry - Present Scenario
Due to wide spread of COVID-19 Pandemic, the sector has seen a de-growth in the year 2020-21, however, in a fair assessment, the paper industry in India, which registered a growth of about 5-6 per cent by the year 2022-23 and it is expected that the things may get back to normalcy by the year 2023-24 with a growth rate of 6-7%. Among various business segments within the paper industry, the packaging industry has fared well across segments such as pharma sector, FMCG and growth of the e-commerce business have played major role in growth of this segment. However, looking into the overall projected forecast of the Indian Paper industry, it is offering better business opportunities to technology suppliers to find genuine buyers to induct state-of-the art technologies which can bring overall growth to the industry. Around 15% of world population is staying in India but consumes only 4% of the total paper produced in the world. India's growing FMCG sector and high spending in education as well as more health conscious people etc are triggering factors of growth prospects of Indian Paper Industry, particularly the packaging industry in India is expected to grow @12-15%.
Changing Scenario of Indian Paper Industry
Major changes are taking place in various segments, like writing and printing paper, paperboard, newsprint, tissues, packaging-grade papers, etc. New technologies and modern management will have a vital role in this process. Besides that, many overseas players are entering India by acquiring or setting up new plants in Indian soil with an aim to make India a paper manufacturing hub, which will bring huge investments to the Indian pulp and paper industry.
Today India is an excellent and vibrant market for paper and paper products due to the high spending of the middle class and government initiatives on the social development front, which also make the industry more vibrant. Many Indian paper mills are now eyeing new mills to setup or joint ventures with existing players abroad to widen their business horizons.
