Kolkata Book Fair To Hit Hard Amid Demonetisation
The latest victim of India’s demonetisation is the International Kolkata Book Fair (IKBF) held annually in the capital city of West Bengal state.
The IKBF is one of the largest book fair in the world of its own kind and experts estimate a drop in sales by about fifty percent.
The 41st edition of IKBF will be held between January 25 and February 5 at the Milan Mela ground, opposite Science City off the Eastern Metropolitan Bypass, in Kolkata.
It is learned the Begali language publishers are printing less books compared to previous past years to about fifty percent of new books and the reprinting editions will see 20 percent less stocks.
The small-scale Bengali book publishers meet up fifty percent of their stalls with Bengali books and most of their payments are in cash.
Speaking globally the Kolkata book fair is the biggest book fair in terms of crowd. Last year it had more than two million visitors and total sales were over Rs 25 crore.
This year the theme country at IKBF is Costa Rica.
Meanwhile, State Bank of India is learned to be deploying more than two dozen mobile ATMs at the fair.