This year shook India’s paint market, next will raise the heat

Dear reader, as 2025, a year of global tumult and volatility, rolls by, Mint's reporters and columnists look around the corner on what is coming in 2026—to help you know what to expect and prepare for it. Tell us what you think at [email protected].Mumbai: After decades of calm, India’s paints industry has seen its equilibrium disrupted over the past year, as deep-pocketed conglomerates moved in—first with Aditya Birla Group’s Birla Opus, followed by JSW Paints’ acquisition of Dutch major Akzo Nobel’s India business.As competition surged, the industry’s largest players prioritised growth, often at the expense of near-term profitability.

One theme stood out in 2025: the paint war is far from over in India’s ₹70,000-crore market.Birla Opus, which has successfully commissioned all six of its plants, attributes its success to product quality and the consumer experience it creates.“The journey was fantastic and I think this is like a dream come true. We are into the next stage of how we improve the efficiency of this (our plants) to the next level," Ajith Kumar, chief operating officer of Birla Opus, told Mint.The top executives of Birla Opus did not disclose specifics on pricing, margins, or key geographies, and said they are on track to achieve ₹10,000 crore in revenue by FY28.

However, the Birla-backed paint maker is clear that aggressive discounting is not central to its long-term playbook.“I don't think these (discounting and pricing) are levers for long-term growth creation in any industry,” said Inderpreet Singh, head of marketing, Birla Paints, in an interview with Mint.This stance contrasts with the public messaging of some rivals. JSW Paints’ managing director Parth Jindal, following the acquisition of Akzo