Domestic paint industry to cross Rs 62K crore mark by 2016-17
INDUSTRY Domestic paint industry to cross Rs 62K crore mark by 2016-17: ASSOCHAM Festival season bring bright colours for Indian paints industry! Indian paint industry is likely to surge from the current level of about Rs. 40,600 crore to about Rs. 62,000 crore by 2016 witnessing a breathtaking double-digit compound annual growth rate (CAGR) of about 20%, apex industry body ASSOCHAM said today. The factors that have fuelled the paint industry's growth are the rise in disposable income and education, increasing urbanization, development of the rural market and various launches of many innovative products. As per the ASSOCHAM recent report on “Indian paint Industry: 2014” reveals that India is the second-largest consumer of paint in Asia. Top players include Asian Paints, Kansai Nerolac Paints, Berger Paints, AkzoNobel, Nippon Paints and Shalimar Paints, adds the report. “The Indian paint industry has seen a gradual shift in the preferen...