Picture by Kishor Roy ChowdhuryCalcutta, Sept. 6: The paints industry is expecting a turnaround in the second half of this fiscal on favourable demand after the growth rate fell to 8 per cent in 2015-16. "During 2015-16, overall paints production in the country was estimated to be 4.25 million tonnes, a growth of 5 per cent over the previous year. "Growth in the industrial paints category depends on the performance of the automotive industry, which consumes around 45 per cent of industrial paints. A slowdown in the sector has adversely impacted the industrial paints business in 2015-16," Dani said at the association's 53rd annual general meeting today. "So, in value terms, the growth (in 2015-16) was lower the the double-digit growth seen in the previous few years," Roy, who is also the MD of Berger Paints, said.

Source: The Telegraph September 06, 2016 19:58 UTC