Paint giants lose their sheen as rivals slash prices, buyers trade down

The Indian decorative paints industry faces intense competition. New entrants and aggressive pricing affect sales and margins. Asian Paints, Kansai Nerolac, and Berger Paints express concerns. Urban demand slowed, but rural demand showed resilience. The industry anticipates modest growth in FY26. Favourable macroeconomic conditions and government initiatives are expected to drive growth.