(India) Consumption of paper in India is set to double from the current 7 million tonnes per annum in the next eight years, according to Indian Paper Manufacturers Association (IPMA).
The industry growth, pegged now at 7-8 percent annually, will double thanks to socio-economic development, increasing literacy rates and increased government spending on education.
"The growth in paper is inevitable and is likely to contribute significantly to the government's target of achieving an overall growth of 12 percent in manufacturing. Unfortunately, the rising cost of raw materials, primarily wood and wood products, are a big challenge facing the industry," Narayan Moorthy, secretary general, IPMA said in a statement.
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