Kolkata, Aug 22: The Indian paint industry might witness a slowdown both in volume and value growth this year. The volume growth is likely to shrink to 8 per cent (12 per cent), while the value growth is likely to moderate to 15 per cent (22 per cent) in 2012-13.
Estimated at Rs 29,000 crore in 2011-12, the Indian paint industry is likely to be affected by decline in demand and rising cost of production, said, Ramakanth V Akula, president, The Indian Paint Association.
“Although the residential, commercial and retail real estate segments have significant growth potential to spur demand in the decorative paint segment, the Indian retail segment outlook during the year continues to be negative buoyed by persistent sluggish demand due to high inflation, higher construction costs and interest costs among others,” he said at the 49th annual general meeting of Indian Paint Industry here on Wednesday.
Article Source: http://www.thehindubusinessline.com/industry-and-economy/article3807468.ece
Publication Date: 22 August 2012