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 surpassed India's GDP growth by 1.5 to 2 times.
Although the implementation of GST regime came in as a challenge initially to the Indian Paint Industry, the reduction of GST rates from 28% to 18% has come in as a breather for the paint industry. The Indian Paint is expected to grow at a CAGR of around 12% during 2018-19 to 2021-22 in value terms.