New Delhi: The
Indian Newspaper Society (
INS) has requested the government to withdraw the 10% customs duty imposed on
newsprint, uncoated paper used for printing of newspapers and light weight coated papers used for magazines.
Publishers of newspapers and magazines are already reeling under severe financial pressure due to many factors like lower advertisement revenues, higher costs and digital onslaught from technological giants, said a statement issued by INS, the industry body that represents the newspaper industry.
Small and medium newspapers will go into deeper losses and many of them will be forced to close down, ad-ded the statement. The 10% import duty on newsprint was imposed in the budget.
The total consumption of newsprint in
India is estimated at 2.50 million tonnes per annum and the capacity of the domestic industry is only 1.0 million tonnes. In the case of uncoated (glazed) and light weight coated (LWC) paper there are no domestic manufacturers.
“The INS calls for urgent intervention of the government to save the Indian newspaper industry by scrapping the unbearable burden imposed on it,” said the statement.