Financial Sector Brushes Off Dependency-boost Indian Innovations!

The time has come for India to become self-independent and finally come forward to promote itself with innovations. With the motive of transforming India’s paint & coating industry, financial incentives have come forward to make some contribution.

Now, India will reduce its dependency on imports and boost itself. Make in India mission if finally in progress now. We can Quote it as- “The next Coat of Growth!” Just local, raw, bold and beautiful. India is Financially backed, see at Industrial Front.

The financial sector is increasing its activity in the industry by supporting domestic manufacturers. Yes, the domestic paint & coating startups are now entering the game. Make in India and Atmanirbhar Bharat alike initiatives are covering these helps under its roof.

Current Financial Supports: –

• MSME Loans- These are the government & private banks whose priority is, lending loans to small-scale manufacturers under MSME category. Like, Mudra Loans up to Rs. 10 Lakhs.
• Startup India Initiative- Loans and subsidies are provided for R&D, eco-innovation projects and green manufacturing units.
• Green Manufacturing Incentives- They help financially for low VOC, water-based and eco-paint technologies.
• Banking Sector Involvement- Banks like SBI, HDFC, and AXIS Bank are helping fund for paint & chemical producers.

Now, of course it is a matter of concern, that why we are coming forward? The answer is to reduce India’s dependency on imports of raw material. Yes, you read it right! Financial sectors are pushing import substitution, job creation, and local R&D.

Supporting domestic manufacturers—less imports & can even start exporting raw material— good foreign exchange—more employment—new opportunities—local R&D.

This will help India to Reduce dependency on China and Europe for raw materials and technologies. India is entering a new chapter in the Paint & Coating industries. Make sure to visit Paint Vision for more updates.