COVID had a huge impact on the paper and print industry would be an understatement. The paper and printing industry is going through a steep decline in volume because of its reliance on the education sector, commercial and promotional printing. 37.6% of businesses in India are implementing cost containment initiatives while 25.8% of businesses are modifying their financial plans to address the economic woes they faced. However, 28.9% of businesses were deferring or canceling their planned investments.
With schools and colleges focus on virtual learning. With each and every institution and organization’s focus on cost-cutting, a lot of many colleges have opted for e-books which are cheaper than the printed books. Similarly, the demand for diaries, brochures, catalogs has been impacted because a lot of companies have gone digital.
Exhibitions, which were major aspects of this industry was deeply affected. These annual exhibitions in India and abroad, provide manufacturers to showcase their innovations and also a place for printers to see new technologies of their peers. The physical exhibitions are replaced with hybrid exhibitions following the Coronavirus guidelines so that those who are unable to travel can also be a part of such trade shows.