Indian Newspaper Society urges government to withdraw customs duty on newsprint
New Delhi: The Indian Newspaper Society (INS) on Monday urged the Narendra Modi government to withdraw 5 per cent customs duty on newsprint, saying such a measure will provide much-needed relief to the print media industry and help it to continue disseminate credible news to the public.
In a statement, INS president Rakesh Sharma referred to escalation in newsprint price due to depreciation of rupee and cancellation of earlier confirmed orders due to West Asia conflict, Russia-Ukraine war, rising incidents of targeting of cargo ships in Red Sea.
He said the INS acknowledges the prevailing situation of price and availability of newsprint due to geo-political uncertainties, logistical intricacies, depreciation of Indian rupee and prevailing customs duty, which has “created formidable burden” on publishers in the country.
Many newsprint mills across the world have either suspended their operations or ceased newsprint production entirely, causing concerns about the continuity of supply of newsprint across the country, he said.
“Compounding these challenges is the declining value of the Indian rupee, which adds pressure on import-dependent industries like the print media sector. The fluctuating currency exchange rates contribute to the rising costs of importing newsprint, thereby straining the financial viability of newspapers and publications,” he said.
He said the survival of the print media industry is crucial for the largest democracy as it not only serves as a vital medium for disseminating information at low and affordable costs to the common public but also contributes significantly to the government’s communication efforts, informing citizens about policies and social welfare programmes.
Arguing for the withdrawal of customs duty imposed on newsprint, he said, “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.”
“This measure (customs duty), if withdrawn, would provide much-needed relief to the print media industry, allowing publishers to manage their operational costs more effectively and ensure the continued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,” Mishra added.