India ends 2.5% tariff on imported wastepaper, saving 750M Indian rupees in costs for newsprint and small-scale board producers experiencing raw materials shortage; government also raises excise duty on writing paper
March 19, 2012
– The government of India has ended a 2.5% tariff on imported wastepaper but has also increased the excise duty on writing paper, Business Standard reported on March 17.
The wastepaper move is expected to benefit newsprint producers and small-scale board manufacturers, which have been experiencing a shortage of raw material.
The cost savings, based on annual wastepaper imports into India of about 3 million tonnes, is expected to be 750,000,000 Indian rupees (US$14.9 million).
The elimination of the 2.5% tariff follows a reduction last year from 5%.
Meanwhile, the excise duty on paper has increased to 6% from 5%, which is expected to lead to an increase in writing paper prices of about 500 rupees/tonne.
The primary source of this article is Business Standard, on March 17, 2012.