The Indian paint industry is estimated to expand by 10-12 per cent during the current fiscal as against 8-9 per cent growth in 2008-09.
"This year volume will grow. The industry is estimated to grow by 10-12 per cent," Indian Paints Association (IPA) President Virendra Kumar Singhal said here today.
The domestic paint sector is currently estimated to be at Rs 15,900 crore, of which Rs 5,200 crore is industrial paint.
Meanwhile, IPA has voluntarily agreed to phase out the use of lead in paints by 2012-13, which is harmful to the environment.
"Replacement of lead will push up costs by 3-4 per cent on an average and for some shades the price could even jump by 300-400 per cent," IPA Vice President Harnish D Juthani said.