8% growth for Indian paint industry in 2015-17, data revealed at 53rd Annual General Meeting of Indian Paint Association

The per capita consumption of paints in India has been estimated to be 3.23 kgs during 2015-16, which is much lower in comparison to some of the other developed economies around the world providing immense opportunities for growth for the paint industry.

Jalaj Dani, President, The Indian Paint Association and President- HR, Chemicals & Supply Chain, Asian Paints Ltd. said this at the 53rd AGM of the Association.

“The growth in industrial paint category is dependent on the performance of the automotive industry consuming around 45 per cent of the industrial paints. The slowdown in the auto segment has adversely impacted the industrial paints business in 2015-16. According to data released by Society of Indian Automobile Manufacturers the auto industry had registered a marginal growth of 2.58 per cent in production in 2015-16 over the previous year,” he said.

However, according to him, the paint industry over decades has always witnessed a growth equivalent to 1.5 times the GDP growth of the country.

“The Hon’ble Prime Minister’s Make in India” vision has been rated as the most appropriate and much needed initiative to give boost to the manufacturing sector of the country. Coupled with Ease of Doing Business initiative by DIPP, Make in India offers multifarious benefits to the potential investors and strengthens the country to compete as one of the top investment destination globally,” he said.

Addressing the Public Session of the IPA AGM, Rajiv Pratap Rudy, Union Minister of State (IC) for Skill Development and Entrepreneurship, said the Central Government is keen to support the country’s paint industry.

The Minister appreciated the role being played by the Indian Paint Association and the Paints and Coatings Skill Council towards top-notch skill development.

He reiterated his Ministry’s firm resolve to realize Prime Minister Narendra Modi’s vision to make India the world’s skill capital. What touched a chord with the leaders of the Indian Paint Association at the CII Centre of Excellence for Leadership at Salt Lake was the strong case the Minister made for skill development for all strata of society.

At the IPA AGM, Mr Rudy also launched the Paints and Coatings Skill Council (PCSC) newsletter and released a promotional video and the first set of training videos capturing its skill development agenda.

PCSC will soon commence its training programmes across the nation through its affiliated training partners. Earlier in the day, the Minister also visited two skill training centers of Asian Paints Colour Academy and Berger Paint’s iTrain, respectively in Kolkata.

It may also be noted that that IPA had continued its engagement with institutions like Ministry of Environment, DIPP, Bureau of Indian Standards, Central Pollution Control Board, Quality Council of India and Ministry of Agriculture to address and mitigate the environmental concerns of the government. While some of these have proven to be successful, a few other issues are still work-in-progress.