India Becomes Fastest Growing Consumer of Paper
Jan. 10, 2009 - Although many regions of the world are showing steep declines in demand for paper, India has emerged as the fastest growing market when it comes to consumption, posting growth of 10% in per capita consumption of paper in 2008
According to the Indian Paper Manufacturers Association (IPMA), per capita paper consumption increased to 8.3 kg as of December 2008, compared to 7.5 kg during 2007-2008.
"The pulp and paper industry will grow at an estimated CAGR (Compound Annual Growth Rate) of 7-8% over the next decade," said IPMA's outgoing president Pradeep Dhobale at the Association's annual general meeting.
"The installed capacity in the country is also slated to grow to 11.2 million ton per annum by 2010 from the current level of 9 million ton," Dhobale said.
Dhobale added that the industry is targeting capital expenditure of over Rs 13,000 crore (USD 2.6 billion) in the next 2-3 years, towards capacity expansion, modernisation and enhancement of efficiencies.
Currently, the Indian paper industry accounts for about 1.6% of the world's production of paper and paperboard.
SOURCE: Indian Paper Manufacturers Association (IPMA)