BOOMING INDIAN PAINT AND COATING SECTOR STRUGGLES TO DEAL WITH SUDDEN INGREDIENT PRICE RISES
June 1st, 2008
BY RAGHAVENDRA VERMA, in New Delhi
THE SUDDEN and phenomenal rise in the cost of raw materials over the past year for the US$2.6 billion Indian paint and coating industry has made business conditions tough for this formerly thriving sector. It is unlikely sustain the 18% growth rate achieved last year.
Various resins, pigments and metals have become costlier, and a really significant hike in the price of mineral turpentine oil, a main ingredient for the solvent-based paints, has really hurt. Selling at US$809 per kilolitre in January, its cost to Indian firms ...
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