Publishers Seek Customs Duty Waiver Due to Soaring Newsprint Costs

New Delhi, March 5 (IANS) – The Indian Newspaper Society (INS) has appealed to the government to remove the 5 per cent customs duty on newsprint, citing financial strain on publishers due to increased costs. Factors such as geopolitical uncertainties and currency fluctuations have impacted the availability and price of newsprint, burdening publishers.

INS President Rakesh Sharma stated, “The escalation in the conflict in West Asia and the Russia-Ukraine war has significantly impacted the global supply chain, affecting the transportation of essential commodities, including newsprint.” The targeting of ships in the Red Sea region has further worsened the situation, leading to disruptions in newsprint supply.

With newsprint suppliers cancelling confirmed orders and mills suspending operations, concerns about the availability of newsprint in India have risen. Fluctuating currency exchange rates have also contributed to rising import costs, putting a strain on the financial viability of newspapers and publications. The INS emphasized that removing the customs duty would provide much-needed relief to the print media industry.

“This measure, if withdrawn, would provide much-needed relief to the print media industry, allowing publishers to manage their operational costs more effectively,” the statement added. The INS is hopeful that the government will consider their request and take necessary actions to support the struggling publishers and ensure the sustainability of the print media industry.