Newsprint price surge threatens Indian newspapers, industry seeks relief on import duty
The Indian Newspaper Society is urging the government to reconsider the 5 percent customs duty on newsprint to ease the financial burden caused due to increase in newsprint price.
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Indian newspapers are grappling with a surge in newsprint prices due to a combination of global issues and import taxes. The Indian Newspaper Society (INS) is urging the government to reconsider the 5 percent customs duty on newsprint, as it would ease the financial burden on publishers and ensure the continued flow of reliable news to the public.
“The escalations in conflicts, in the Midwest countries, as well as the conflict between Russia and Ukraine, have significantly impacted the global supply chain, and thus affecting the availability of newsprint. Coupled with the Red Sea issue, where cargo ships are being continuously targeted, has further exacerbated the situation, leading to disruptions in the transportation of essential commodities, including Newsprint. Resultantly, the newsprint suppliers are cancelling the earlier confirmed orders of the publishers,” said a statement from the Indian Newspaper Society (INS).
According to INS many newsprint mills, across the world as well as in India, have either suspended their operations or ceased newsprint production entirely, causing concerns about the continuity of supply of newsprint across the country.
“Compounding these challenges is the declining value of the Indian rupee, which adds pressure on import-dependent industries like the print media sector. The fluctuating currency exchange rates contribute to the rising costs of importing Newsprint, thereby straining the financial viability of newspapers and publications,” INS added.
