Business Paper stocks report strong earnings growth in H1FY19 on high demand Updated : November 16, 2018 11:25 PM IST Maharashtra is the largest producer of paper in India followed by Andhra Pradesh, Gujarat, Uttar Pradesh and West Bengal. The Indian paper industry currently has a turnover (net of taxes) of Rs 50,000 crore and contributes Rs 4,500 crore per annum to the national exchequer. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.