While the Russia-Ukraine crisis has kept media on its toes, India's newspaper industry braces itself for a big blow as part of the fallout of this war.
As countries across the world suspend ties with Russia, they will also have to increasingly focus on alternative ways to source their goods.
A major portion of India's newsprint paper comes from Russia, data shows.
With sanctions in place, several shipping companies and ports have stopped orders that come from Russia over its invasion of Ukraine, shutting off access for goods coming from Russia and pushing up prices due to shortage.
Even during Covid-19, newspapers in India suffered on the back of a rising dollar and increasing prices of ink, which again is mostly imported, as well as disruptions in supply as countries, prioritised medical supplies and essentials. For long stretches of time, the fear of infections spreading through goods also disrupted a steady supply of materials.
According to a Times of India report, freight costs of newsprint have risen four-fold since the pandemic and are set to go up further as China battles a fresh wave of infections and closures (Shenzen being a major port).
Domestic manufacturers have largely moved to manufacture packaging material overgrowing demand for goods and a booming period for e-commerce players, according to the report.
Unless there s a government intervention into the industry or a different source is found, the newspaper industry could be staring at very large bills and mounting losses.
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(Published 19 March 2022, 11:04 IST)
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