Rapidly expanding Indian Paint Industry to become an INR 1 Lakh Crore Industry in next five years” – IPA


*“Rapidly expanding Indian Paint Industry to become an INR 1 Lakh Crore Industry in next five years” – IPA*

• India’s largest Paints & Coatings Trade Event kicks off in Goa
• Honorable CM of Goa – Dr. Pramod Sawant to attend the Conference along with a host of other dignitaries
• Indian Paint Industry is consistently growing at double digits CAGR and this trend is expected to continue in the near future
• Goa’s Paint & Coatings Market is witnessing an unprecedented boom driven by growing income levels and expanding infrastructure.
• Conference to witness the participation of around 700 Delegates from the Paints & Coatings ecosystem of India and across the globe
• Over 40 Panelists comprising leading Business Leaders, Technology Specialist, and other domain experts will share perspectives on a range of relevant topics.

Panjim, Goa, January 20, 2023: The Indian Paint Association (IPA), the apex body of the country’s paint and coatings industry, today inaugurated the largest Trade Event of the estimated $8 billion Indian Paints & Coatings industry – The 30th & 31st Indian Paint Conference in Goa today.

In a Press Conference addressed by stalwarts of the industry, the IPA announced that the Indian Paints & Coatings sector will become an INR 1 Lac Crore Industry in the next five years (From the current INR 62,000 crore). This is in line with the consistent double-digit Compound Annual Growth Rate (CAGR) the sector has been achieving over the last few years.
Themed ‘Nutation’ – “Reimagining the Paint Business”, the 3-day conference will feature discussions and deliberations amongst the best minds of the paints and coatings ecosystem from India and abroad. Around 700 delegates and over 40 panelists comprising leading business leaders, technology specialists, and other domain experts will share their perspectives on a range of relevant topics concerning this sector. The key thrust of the conference will be on ‘reimagining’ or adopting a fresh and innovative approach for sustainable growth of the sector in today’s dynamic times.

The Indian Paint Industry has historically surpassed India’s GDP growth by 1.5 to 2 times. Goa is one of the fastest growing markets within India because of rapid infrastructure growth, which in turn fuels the expansion of the paints and coatings market. The honorable Chief Minister of Goa – Dr. Pramod Sawant is scheduled to attend the Conference on the second day to extend his encouragement and support to this vital industry which literally touches lives of people of every point.

“There is a strong positive correlation between growth of the industry and GDP growth of the country given the sector’s dependence on overall economic activity, including income levels, industrial production, infrastructure and construction spending. Given India’s strong economic fundamentals, future growth potential and the newfound zeal for ‘Make in India’ the Indian Paint Industry is poised for a colorful future.” said Mr. Ashok Kumar Gupta – President, Indian Paint Association (Managing Director – Shalimar Paints Limited). “We are glad to be having this premier Conference at this juncture of tremendous opportunities for the sector for deliberating and chalking out sustainable strategies. Also, we believe no other place could have been more ideal than Goa which is one of the fastest growing domestic markets for our industry. From colorful villas to street art & carnival; colors are an essential part of this nature’s paradise called Goa.”; he added.

“With a focused theme like Nutation driving the conference, we have put together a stimulating and thought-provoking business program spread over these three days. We are bringing under one roof gobal thinkers and speakers of excellence in their fields to lend their valued thoughts on Reimagining the Paint Business to drive sustained growth to the paint industry with a lot of emphasis on Environment, Health and Safety of all our stakeholders. We hope that the conference will prove to be the point of Nutation for our industry and help us Reimagine the Paint Business for an exhilarating journey into the future.”; said Ms. Priya Bhumkar – Convenor, 30th & 31st Indian Paint Conference (Managing Director – Soujanya Color).

Elaborating on the Paints & Coatings market in Goa, Ms. Bhumkar added “Goa is witnessing an unprecedented infrastructure boom. Tourism is the keystone of Goa’s vibrant economy. However, the presence of robust Pharmaceutical, Mining Packaging & MSME enterprises has ensured that the economy of Goa is driven by multi-sectoral development. Indian paint and coating Industry can play an important role in the success of Goa’s unique progress story.”.

The Conference will commence with Keynote Speech by Kargil war hero – Lt. Gen. Mohinder Puri, former Deputy Chief of Army Staff and author of the best seller -Kargil: Turning the Tide. There is also a ‘Fireside Chat’ with Padma Shri Anil Kumble, former Indian Cricket Captain, Coach, and Commentator, who has the distinction of being the most successful Indian bowler of all time.

The three-day Paint Conference will also witness Technical Paper Awards and Lifetime Achievement Awards. The two-day cultural programme in IPA Conference starts with a Bharatanatyam performance by Vaibhav Arekar and Sakhya team, followed by Music by DJ Sandy, and Bollywood Bling by renowned singer – Shaan. Besides, there will be a host of Business and Technical Sessions on various topics to give a complete 360-degree view to all stakeholders of the paint industry.


Dignitaries at the Press Conference
• Mr. Ashok Gupta – President, Indian Paint Association (Managing Director – Shalimar Paints).

• Mr. Jason Gonsalves – Vice President, – Indian Paint Association, (Dir: Corp Planning & IT – Kansai Nerolac)

• Ms. Priya Bhumkar – Convenor, 30th & 31st Indian Paint Conference (Managing Director – Soujanya Color)

• Mr. Jashan Bhumkar (Co-Convenor 30th & 31st Indian Paint Conference)

• Mr. Amit Syngle (MD & CEO – Asian Paints)

• Mr. Anuj Jain (Managing Director – Kansai Nerolac Paints)

• Mr. Abhijit Roy (MD & CEO – Berger Paints)

• Mr. Mahesh Anand (President – Nipon Paints India)

• Mr. Hemant Jalan (Managing Director – Indigo Paints)

• Mr. A S Sundaresan (CEO – JSW Paints)


About Indian Paint Association (IPA)

Established in 1960, The Indian Paint Association is the apex body of the Indian Paint Industry, which represents both the organized sector and the small-scale sector in the paint industry. It is a voluntary non-political and non-profit organization, which promotes the interest of the paint industry and society. The IPA is a unique forum in which even the very small-scale manufacturers are members besides all the major paint producers in India. The representative character of the association is amply demonstrated by the fact that more than 80% of the total paint production in the country is accounted for by members of the IPA.

About the Indian Paints & Coatings Industry

The Indian Paint Industry is today worth over ≈INR 62,000 Crores (≈USD 8 Billion). It has two main segments of products, namely – Architectural/Decorative Paints which is 75% of the market, and Industrial Paints making up the remaining 25%. The Paint industry is equitably divided amongst organized and unorganized players. Roughly 50% of the market share is held by a handful of large corporate companies with a pan-India presence, and the balance is shared by about 2500 small and medium-scale companies having regional footprints.

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