Grasim Industries, part of the Aditya Birla group, plans to invest Rs 10,000 crore in the paints sector over the next three years to compete with current market leader Asian Paints and newcomers such as JSW.
The firm reported shortly after its board meeting that the market dynamics of the decorative paints industry had altered, with new capacity announced and strong growth and outlook. “We have advanced the execution of our 1,332 MLPA paint capacity, with plant commissioning to begin in the March quarter of fiscal 2024,” according to the business.
The corporation announced its foray into the paints market last year, with a Rs 5,000 crore investment.
