JK Paper has taken over the ailing Sirpur Paper Mills after acquiring 76.37 percent stake following the NCLT approval to the company's resolution plan.

AS Mehta, president at JK Paper, in an interview with CNBC-TV18 shared further details about the acquisition and the growth dynamics for the industry going forward.

"The growth for the paper industry is different for various paper categories but on an average the industry growth would be in 6-7 percent but if the economic activities go up them growth may further improve. For writing and printing paper the growth would 4-5 percent, for uncoated paper it would be 8-10 percent, in copier category it would 7-8 percent," said Mehta.

He said India remains the fastest growing paper market because globally the paper industry is growing at 1-2 percent.

With regards to pulp demand, he said," It has gone up with demand from China going up and so globally pulp prices are higher and are enabling even local companies to raise prices."

He said the selling price of paper is likely to be stable going forward but in short-term they are likely to be revised upward. For the month of July, 2018, the company took price hikes of 1-2 percent for certain categories, said Mehta.