Nippon Paint is likely to market its other solutions like industrial, automotive and marine paints in India in 2008. The $3 billion Japanese company has ventured into the decorative paints segment in India.Nippon Paint is eyeing to go national in 2008. Its two plants - one in Gurgaon and the other in Chennai - will become operational around the same time. "Once our plants become operational and we get a hold over the decorative paints market in India, we will launch our other products as well," W M Yip, managing director, Nippon Paint (India) said on the sidelines of a press conference organised for the launch of the company's products in Hyderabad.The Indian paints industry is estimated to be around Rs 9,000 crore in value and 1.05 million tonne in volume. In the organised market, decorative paints comprise 75% of the pie amounting to Rs 4,725 crore.Nippon Paints is vying for a market share of 5-10% in around three years in India.According to Ramakanth Akula, vice-president (decoratives) of Nippon Paint (India), the south Indian paints market is around Rs 1,200 crore. Around 50 exclusive retail outlets will be launched in the south by the end of 2006, he added.Also Read: Nippon Paint to invest Rs 160 crore
