India’s largest paper maker Ballapur Industries plans to quadruple its capacity over the next five years, according to Finance Director B. Hariharan. The expansion will be achieved through foreign acquisitions and increasing its capacity in India.

Ever increasing demand for paper in India has allowed Ballapur to raise prices, shielding it from the damage that increased raw material prices have inflicted on the balance sheets of European and American manufacturers.

Ballapur Industries is part of the Avantha Group, owned by billionaire Gautam Thapar. In March 2007, the Group acquired Sabah Forest Industries of Malaysia for $261 million.