Indian paint industry estimated to reach Rs.70,000 crores by 2021-22: IPA
Speaking on the occasion, Abhijit Roy, President - IPA said, "The Indian Paint Industry currently valued at around Rs. 50,000 Crores is poised to grow at a healthy rate and is expected to reach around Rs.70, 000 Crores by 2021-22. There is a strong co-relation between the Indian Paint Industry and the GDP growth of the country. It has historically surpassed India's GDP growth by 1.5 to 2 times."
The 29th Indian Paint Conference, the largest trade-show of the estimated Rs. 500 billion (Rs. 50,000 crores) Indian Paints and Coatings industry was organized in Agra from 11th to 13th January 2019.
The 3-Day Conference organized by Indian Paint Association (IPA), the apex body of the Indian paint industry was inaugurated by Sumit Sawhney, CEO & MD - Renault India and Jayant Krishna, former Executive Director & Chief Operating Officer, National Skill Development Corporation (NSDC) in presence of stalwarts from the Indian paint industry and senior officials from industry bodies like CII.
"Although the implementation of GST regime came in as a challenge initially; the reduction of GST rates from 28% to 18% has come in as a breather for the paint industry," he further added.
During the Conference; Paint & Coatings Skill Council (PCSC), a body affiliated with IPA announced the launch of an Apprenticeship Training Programme in association with National Skill Development Corporation (NSDC) for developing skilled manpower for the industry.
"Skill development has always been one of our prime focus areas. The paint Industry spearhead by the IPA and PCSC has taken big strides in skilling across the country and today our painters have been exposed to not only national but also international painting best-practices," elaborated Mr. Roy.
The theme of the 29th Indian Paint Conference was 'Paint Pe Charcha - Naye Aayaam' signifying in-depth deliberations (Charcha) to discover new dimensions (Naye Aayaam). The Conference witnessed knowledge sharing sessions from leading paint industry stalwarts from India; in addition to select global speakers.
Dignitaries Present at the Media Briefing for the 29th Indian Paint Conference
• Mr. Abhijit Roy, President - IPA (MD & CEO, Berger Paints India Ltd.)
• Mr. S Mahesh Anand, Vice President - IPA (President Decorative, Nippon Paints India)
• Ms. Nita Karmakar, Secretary General IPA & Regional Director CII
• Mr. K B S Anand (MD & CEO, Asian Paints Ltd.)
• Mr. Anuj Jain (Executive Director, Kansai Nerolac Paints Ltd.)
• Mr. P K Khanna, Convenor - 29th Indian Paint Conference (Director, Punjab Paint Colour & Varnish Works (P) Ltd.).
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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