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Paper manufacturers to invest Rs 250 billion in capacity and technology
Industry News- Sep 13,24
Naini Papers is investing Rs 20 billion in a 125,000 tonne plant in Uttarakhand to produce paper pouches, intended to replace single-use plastics in food packaging.
Indian paper and paperboard manufacturers are investing Rs 250 billion in capacity expansion, de-bottlenecking, and technology upgrades, according to Pawan Agarwal, President, Indian Paper Manufacturers Association (IPMA). This investment includes Rs 50 billion for new technologies aimed at reducing the industry’s carbon footprint. Agarwal, who is also the Managing Director of Naini Papers, highlighted that a million tonnes of additional capacity will be added, though the primary focus remains on modernisation and efficiency improvements.
Naini Papers is investing Rs 20 billion in a 125,000 tonne plant in Uttarakhand to produce paper pouches, intended to replace single-use plastics in food packaging.
The paper industry, growing at a compound annual growth rate (CAGR) of 8.2%, is seeing increasing demand driven by the e-commerce sector and the eco-friendly nature of paper products. India's paper and paperboard production is estimated at 22 million tonnes (Mt), with the total market at around 25 Mt. However, much of the unorganised sector's installed capacity of 30 Mt remains idle.
Agarwal also raised concerns about rising imports from ASEAN countries and China, which have surged 34% in the past year, with imported products being priced significantly lower. IPMA is seeking a 20-25% anti-dumping duty to protect the domestic industry, which provides direct employment to 5 lakh people and indirect employment to 15 lakh.
Agarwal emphasised the industry's efforts toward sustainability through investments in clean technologies, water and energy efficiency, and agroforestry. He also noted that around 40 paper mills are expected to come under the Carbon Credit Trading Scheme (CCTS) in the next financial year, focusing on reducing greenhouse gas emissions.
(The Hindu)
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