India is faced with a unique opportunity highest increase in working age (15-64) population over the next 20-30 years which can propel economic growth. India will account for 25 per cent of the global increase in workforce over the next 4 decades.
Given the oversupply and weak domestic demand, the paper and paperboard players will be unable to pass on the entire increase in duties, and will see a further drop in their EBITDA margins.