India paper making capacity growing at over 7 percent annually
Harsh Pati Singhania, JK Paper’s vice chairman and managing director, says the Indian paper industry is growing at over 7% and projected to grow at over 4% per annum until 2030.
The 55th AGM and Conference of the Federation of Paper Traders Associations hosted its magnum opus celebration at the Grand Hyatt, Mumbai. The event which was attended by more than 800 paper traders across India saw JK Paper’s vice chairman and managing director Harsh Pati Singhania address the gathering as the chief guest at the conference.
Singhania was quite unequivocal that India is the fastest growing paper market globally. He said, the Indian paper industry is growing at over 7 per cent and projected to grow at over 4 per cent per annum till 2030. This is translated into 20 million tonnes in 2020 and 27 million tonnes by 2030.
He reassured the audience that the Indian paper mill industry has made suitable investments to cope with the demand. He said, “Indian paper mills have invested over Rs 20,000 crore in the last five years. But it needs investments of Rs 90,000 crore to add new capacities by 2030.”
The market for writing and printing paper is expected to grow by about 6 per cent annually over the next five years. As a result, market for printing and writing paper will expand from the current 4.8 million tonnes in 2015-16 to about 5.8 million tonnes per year by 2018-19.