India has emerged as the world\u2019s fastest growing paper market with a compounded annual growth rate (CAGR) of 6-7%, cocking a snook at China, the biggest consumer of paper globally. The Rs 60,000-crore paper industry logged this robust growth, fighting both raw material scarcity and competition from cheaper imports, according to outlook analysis by IPMA (Indian Paper Manufacturers Association). READ ALSO:\u00a0FTAs only after talks with domestic industry: Suresh Prabhu \u201cChina\u2019s paper market has grown only 4.6% per year, while the global paper production in the current year is projected to grow 1-1.5%. In the last 10 years, the domestic demand has almost doubled from around 9 million tonne in FY 2007-08 to over 17 million tonne in 2017-18. At the same time, with a CAGR of 6-7%, India counts on touching about 20 million tonne by FY 2019-20,\u201d AS Mehta, President, IPMA told FE. READ ALSO:\u00a0Flipkart\u2019s Sachin Bansal books $21 million ride in Ola Even as the growth statistics are rosy as never before, IPMA\u2019s annual meet was disturbed by the issues of competitive cost, amidst the government policy of giving preferential tariff treatment to import of paper and paperboard under different FTAs (Free Trade Agreements) and other bilateral trade pacts. In the last seven years, imports of paper and paperboard have risen at a CAGR of 16.11% in value terms (from Rs 3,411 crore in 2010-11 to Rs 9,702 crore in 2017-18), and 18.15% in volume terms (from 0.54 million tonne in 2010-11 to 1.72 million tonne in 2017-18). Imports are growing at a very high rate as compared to the increase in domestic production rate, according to Saurabh Bangur, outgoing President, IPMA. READ ALSO:\u00a0CPI inflation falls to 18-month low; declines to 2.19% in December \u201cWe are able to keep 5,00,000 farmers in employment through agro-industry initiative in a scale unequalled by any other industry and yet are unable to make matching strides in \u2018Make in India\u2019 initiative because of the import policy restraints\u201d, he said. Meanwhile, the party is only starting for the Indian paper industry, if one looks at the sheer potential. \u201cWith a per capita consumption of paper being only 13-14 kg per annum in India as compared to the global average of 57 kg \u2014 not to talk about around 200 kg in developed countries \u2014 the opportunity for growth in our country is huge\u201d, said Harsh Pati Singhania, Vice Chairman & Managing Director, JK Paper.