India’s Paints industry is the seventh largest globally and second largest in Asia, after China. Another interesting point about the industry is its growth rate – it has been growing in double digits over last 10 years while the global industry growth rate is just 2%. Indeed, growth will be affected in the current financial year due to nationwide lockdown but it may not able to change the long term direction of the industry.
India with one of the largest young population with growing income is any industry’s favourite. Further, factors like shifting from Kachha houses Puca houses, shortening repainting cycle, untapped rural market (whose income the government is trying to double in few years), etc will keeping the growth numbers ticking. So, Happy Painting!
Read the report to know more.