Strong signs of recovery in economy, we anticipate healthy growth in next quarter, says Nippon Paint
Oct 13, 2020
New Delhi [India], October 13 : Lauding policy initiatives by the Government of India to revive the economy, Nippon Paint India on Tuesday said that it is seeing signs of demand revival in automotive and other consumer-oriented sectors in India.
"There is a clear rebound in the market and there are strong signs of recovery in the economy. We anticipate healthy growth in the next quarter due to the upcoming festive season," said Sharad Malhotra, President, Nippon Paint India (Automotive Refinishes & Wood Coatings).
Nippon Paint India in a statement said that it has made deep investments in India market in technology, infrastructure, research and development, and has worked hard to improve operational efficiency in the supply chain, manufacturing and more in the wake of the ongoing pandemic.
"The company is relooking at the evolving customer requirement in the new environment and plans to offer customized solutions over the next few months, including products that are anti-fungal and anti-viral," it stated.
Making its pitch for an 'AtmaNirbhar Bharat' and the Start-up India Program, Nippon Paint India on Tuesday launched a+, a solutions platform for architects, designers and consumers.
"The a+ ecosystem will cater to Indian consumers' increasing demand for unique design solutions and provide design services, product solutions and full turnkey project execution services. With this unique offering, Nippon Paint India aims to create a niche for itself in this yet-untapped market. Nippon Paint India also plans to mentor young and enterprising Indians under its fold," the company said.
Malhotra while talking about the company's association with 'AtmaNirbhar Bharat' said that Nippon has been practising Atmanirbharta much before the COVID times.
"Going forward, we are looking at complete localisation of our products, manufacturing, supply chain and other aspects of the business," he said.
Nippon Paint India said it is now focusing on distributed manufacturing - creating a series of strategic ancillary manufacturing units that give the company more capacity and flexibility, while reducing risk, to support its main production centres.
