Remove 5% customs duty on newsprint: Indian Newspaper Society to government | Latest News India - Hindustan Times
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Remove 5% customs duty on newsprint: Indian Newspaper Society to government

Mar 05, 2024 11:21 AM IST

The INS also said that many newsprint mills in India and across the world have either suspended or ceased their operations, causing concerns about the supply of newsprint in India

The Indian Newspaper Society (INS) has asked the government to remove the 5% customs duty on newsprint due to the burden it imposes on publishers in a maelstrom of factors that also include global geopolitical uncertainties, logistical intricacies, and depreciation of the Indian rupee.

Hindustan Times is amongst the fourteen founders of INS which was established in 1939. (Representative file photo)
Hindustan Times is amongst the fourteen founders of INS which was established in 1939. (Representative file photo)

“This measure, if withdrawn, would provide much-needed relief to the print media industry, allowing publishers to manage their operational costs more effectively and ensure the continued dissemination of credible news and information to the public,” a public statement signed by INS president Rakesh Sharma said.

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The statement mentioned that the conflicts in “Midwest countries”, the conflict between Ukraine and Russia, and the issue in Red Sea have severely affected the global supply chain and thus the availability of newsprint.

“Resultantly, the Newsprint suppliers are cancelling the earlier confirmed orders of the publishers,” INS said.

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The INS also said that many newsprint mills in India and across the world have either suspended or ceased their operations, causing concerns about the supply of newsprint in India.

The declining value of Indian rupee has compounded these challenges and added “pressure on import-dependent industries like the print media sector” the INS said as it raises the costs of importing newsprint and affects the financial viability of newspapers and publications.

“It is pertinent to mention here that survival of print media industry is crucial for the largest democracy of the world, as we not only serve as a vital medium for disseminating knowledge and information at low and affordable costs to the common public but also contribute significantly to the Government’s communication efforts, informing citizens about policies and social welfare programs. In an era of widespread online misinformation, print media retains a commendable level of trust and credibility, distinguishing itself through reliable editorials, comprehensive reporting, and widespread readership,” INS said.

Hindustan Times is amongst the fourteen founders of INS which was established in 1939.

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