Asian Paints hikes prices by 12% as West Asia conflict drives up costs

India's Asian Paints has increased prices by about 12% to counter rising raw material costs linked to the Middle East conflict, marking the steepest hikes ‌in ⁠the industry, ⁠the firm said on Monday.

The country's largest paint-maker by ​market share said the situation in West Asia remains fluid, and ​that input costs could ⁠take time ‌to normalise

"The recent ​escalation in ​West Asia has created ⁠significant inflationary pressures in raw materials, ​particularly through crude oil-linked inputs," ​Chairman R. Seshasayee said in an annual report


Earlier, rivals Berger Paints India raised its prices between 1% and 2%, Kansai ‌Nerolac Paints 2-3% and JSW Dulux 10%.

Indian paint ​makers have ​raised ⁠prices this year to offset higher crude-linked raw material costs, while volatility in petrochemical ​supplies due to tensions in the Middle East has pressured production and margins.