According to an article in the India-based newspaper Business Standard, more than 125 craft paper mills in Gujarat and Maharashtra, two states in western India, are on the verge of closing because of a significant increase in recovered fibre prices as well as their inability to pass on this increase to customers in light of the cheap imports from ASEAN (Association of Southeast Asian Nations) countries under the Free Trade Agreement.
The article notes that because of the increase in the consumption of recovered fibre on the global market, raw material prices have increased by roughly 35%. As a result, many Indian paper mills are losing a significant amount of money.
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