Large companies, such as JSW group, Aditya Birla flagship Grasim, and now Pidilite Industries, have announced their foray into the paints market, attracted by the growing demand and the high margins on offer in the business.
The paints and coating sector in the country is expected to touch Rs 1 trillion in five years, according to the Indian Paints Association, and the current size of the industry stands at Rs 62,000 crore.
The association has said the sector has been consistently achieving a double-digit compound annual growth rate for the past few years.
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