The Federation of Corrugated Box Manufacturers of India (FCBM) has issued a critical warning regarding unprecedented cost pressures threatening the corrugated packaging industry. Kraft paper, which constitutes about 80% of production costs, has seen prices rise by 15-20% due to global disruptions and supply chain issues. Additionally, costs for essential manufacturing inputs such as adhesives and inks have surged by 30-40%, further straining financial margins. Manufacturers are also grappling with increased conversion costs due to higher electricity tariffs and wage revisions, making it increasingly difficult to operate sustainably. The FCBM highlighted that the current Goods and Services Tax (GST) structure exacerbates these issues by locking up working capital, complicating refund processes, and affecting liquidity. To mitigate these challenges, the federation is calling for a minimum 20% price increase in corrugated boxes to ensure operational viability. They emphasize the importance of the packaging sector to various industries, including food, pharmaceuticals, and e-commerce, warning that stress in this sector could have broader implications.