ICI Paints aims 20% jump in sales

LUDHIANA:Rising affluence of Indians, which has spurred demand for better homes, has given premium paint manufacturer ICI India Ltd reason to believe that its total sales would jump by 20 per cent this fiscal.

In the last financial year, the company had achieved a turnover of Rs 800 crore and it hopes that business would grow by 20 per cent fuelled by increasing income levels and buoyant economic trend, ICI India Limited National Sales Manager Manish Bhatia said here.

The total market size of the paints in India is roughly Rs 4,000 crore, which is growing at a pace of 12-15 per cent per annum, he said.

In order to cater to top end customers, the company has also launched its new super premium finish paint called Inspira.

"Customers have started spending more on home and life style so as to stand out among their peer group. This segment will form the target customers for Inspira," said another ICI India official.

Based in UK, ICI Paints operates 60 manufacturing units in 25 countries. Its products are sold in more than 120 countries. Its product portfolio includes Velvet Touch, super clean, weather shield exterior and tile shield.