The paper industry in India is likely to grow 12 per cent per annum for next five years and the overall paper consumption is expected to increase to 24 million tonne in 2024-25 from the present 15 million tonne.
The industry is witnessing a transformation and several industry leaders are investing in capex to expand their capacity to meet the expected demand growth, said Indian Paper & Manufacturers Association (IPMA) in a statement.
Besides, IPMA expects consolidation in the industry in the coming years as players would take up mergers and acquisitions to compete with each other.
"The paper industry is going through a transformation phase and few big paper companies are doing expansion to meet their region or product or category-specific demand. Overall paper consumption is projected to increase to 24 million tonne in 2024-25 from 15 million tonne currently," said IPMA VP J P Narain.
Moreover, the manpower-driven industry is expected to generate employment opportunities, both direct and indirect, it added.
To promote such opportunities, 'Paperex2019' -- the world's biggest paper show will be organised in the city from December 3-6 2019.
Around 30,000 business visitors, 600 plus participants from 29 countries are expected at the show to be held at Pragati Maidan here. The paper show is organised by London stock Exchange Hyvegroup PLC.