Slowdown in economy takes a toll on Asian Paints' decoratives business

摘要

The decorative business segment of Asian Paints Ltd. in India registered a "low double digit volume growth," impacted by the slowdown in the overall economy. The automotive coatings business in the joint venture, PPG-Asian Paints, also continued to be impacted by the downturn in the automobile industry, while the Industrial Coatings business joint venture, Asian Paints-PPG, saw some demand pickup in the Protective Coatings segment. Benign raw material prices however benefited the entire coatings business.