If there is no paper, the humanity will be in difficulty. We have no good way to read knowledge given by our predecessors, write what we learn, write what we feel.
We have to write on stones or some other substances like tree leaves that our ancestors wrote on. But it will be too slow and difficult to preserve.
We can use computers to read, write and store our documents. But a hard copy is always useful. It is accessible to poor people, who cannot afford computers. Computers need electricity. India does not have sufficient electric power for every one. Always looking at computer screens may cause some health problems too.
All legal documents are in had copy and signed. So some other form of writings are required to be invented. That alternative has to be cheap too.
If paper is not there, then many trees and forests are saved. Because we do not cut them for manufacturing of paper. Some harmful chemicals are also not used.
Many people live on paper industry making text books, note books etc and their sales. So they will be out of jobs.