Netherland-headquartered global paint and coating company AkzoNobel’s is aiming to increase its revenue in India to €1 billion (Rs 6,000 crore) by 2015. The paint industry in India is estimated to be worth Rs 17,000 crore, growing at 16 per cent to 17 per cent annually, with AkzoNobel India maintaining its share close to 10 per cent in the sector.
To realise the aim, the company is looking for organic growth in addition to manufacture improved value added products to the customers.
The company recently opened an Industrial Coating plant in Bangalore and is looking at Greenfield investments in Gwalior.
The company maintains strong economic growth leading to rising disposable incomes and increased propensity to paint and use superior paint products as some of the factors that would help the company increase its sales in the coming years, thus helping them realise their aim.
