Retail prices of paints unlikely to fall soon

KOLKATA: Leading Indian paint makers today indicated that there was no immediate sign for reduction in retail prices of paints, despite a slump in global crude oil prices.

"Impact of crude is not the same for different paints makers. It could take 2-3 months before any impact on price could be seen, as companies have to maintain certain inventories, which need to be cleared," Asian Paints managing director KBS Anand said while addressing the media at the Indian Paints Association conference.

Berger Paints managing director & CEO Abhijit Roy also corroborated the same.

He said other factors also have to be considered before taking a call in cutting prices like rupee movement and pigment price which are import depended.

Anand jokingly said it is more important to see demand in China rather crude movement.

The impact on price will only be in oil-based products which are not more than 30-40 per cent of the industry.

The worth of Indian paints industry is estimated at Rs 28,000-30,000 crore and it is expected to touch Rs 50,000 crore over the next few years.