Berger Paints MD & CEO Abhijit Roy mentions that the unorganised sectors play a crucial role in the growth of the paint industry. According to him, small manufacturers are also an essential part of the paint industry. Although, the big players contribute the majority part in the Rs. 70,000 crore market. The unorganised sector in the paint industry also consists of 20% of the industry. The numbers increased with time. It is expected to increase further in the coming year.
Berger Paint MD & CEO Highlights The Importance Of the Unorganised Sector In The Paint Industry
Berger Paint MD & CEO highlights the importance of the unorganised sector in the paint industry. According to him, the unorganised sector is helping the products reach a deeper level in the markets. It is not possible else. The big companies are not able to reach this type of interaction with the customer. However, the small and medium manufacturers can make a connection on a deeper level with the customers due to a local touch.
Berger Paints already made good sales in the previous year. The company turnover was Rs. 11,199 crores. Thus, it is the top second company in India. While, it is the top 15th company in the world. It aims to expand its growth in the future with a sales target of Rs. 20,000 Crores by 2029. The Economic Times asked the CEO about the challenges the company faces due to extreme weather conditions in the south. The CEO answered positively about its growth targets in the southern states. The states do have extreme weather conditions that make it difficult for the paint to be sustained.
However, he mentions that the company works on water-proofing technology to meet conditions like extreme rainfall. Also, the company received a positive response from the consumers on their products. According to the details, the consumers are in favour and showing their faith in the product. The Southern countries experience high rainfall. The cities like Mumbai and states like Kerala often experience it the most. Thus, a strong waterproofing technique is the only solution for the company.
The paint companies are also positive about the growth of their numbers due to several upcoming government projects. The PM Awas Yojana will be manufacturing 40 Million houses for the different income groups especially targeting the lower income groups. Thus, it will also give a lot of business to the painting companies. Berger Paints is also partnering with small manufacturers and MSMEs now.