The Indian Paint Industry had been witnessing a consistent growth of 13 to 15% over the past five years and indications are that this will continue for another five years. Multinationals are rushing in to come to India to tap the growing market in the Country. The enlightening point of this growth is that both the Decorative and the Industrial Coatings are showing equal percentage increases.
For the Coating Industry to continue capitalizing on this wave, the window of opportunity lies in the enviable combination of business with Research and Development, to drive the growth of this sector. Constant Innovation with a pulse on the customer requirement can create an environment conducive to rapid growth in domestic and export market.
With Paint and Coating industry becoming increasingly competitive, there has been a dramatic change in the area of quality, cost, delivery, service as well as an enhanced awareness about safety and environmental concerns. In this highly challenging global marketplace, the key driver of the future will be the ability to Innovate – whether it be technology, process, plant, equipment or facilities -- to sustain and develop market position.