India’s imports of paper and paperboard accelerated by 39% at 409,000 tonne in Q1FY24 over 294,000 tonne in Q1FY23, according to the latest data issued by the Directorate General of Commercial Intelligence & Statistics (DGCI&S).
The surge in imports comes on the back of a 25% increase in paper and paperboard imports in entire FY23 over FY22.
In value terms too, the imports accelerated by nearly 28% during the quarter to stand at Rs 3,153 crore.
In FY23, Rs 12,531 crore worth of paper and paperboard was imported. In Q1FY24, imports from ASEAN have increased a staggering 198%, and from China by 37% in volume terms.
Imports of all grades of paper have been accelerating in Q1FY24 with the highest jump of 214% seen in imports of uncoated writing & printing paper, 28% in coated paper and paperboard, 15% in kraft paper and 65% in tissue paper imports.
The top import sources of uncoated writing & printing paper are Indonesia, Singapore and China. The top import sources of coated paper and paperboard are China, Japan and South Korea.
According to Pawan Agarwal, President, Indian Paper Manufacturers Association (IPMA), domestic paper manufacturers have undertaken large investments and there is adequate domestic production capacity in the country for almost all grades of paper.
Such large investments in the country should not be allowed to be jeopardized by allowing imports at nil of preferential customs duties, he said.