"India's Paint Market is Still Under Leveraged"

In an exclusive interview, Mahesh S Anand, President– Decorative Business at Nippon Paint India, shares how the brand has built a distinct identity in India by combining functional innovation, sustainability and deep market penetration, evolving from a challenger brand to a top-five player with a focus on high-tech, eco-friendly solutions tailored for India's diverse and growing market

- SOUMYA SEHGAL BHUTANI

You’ve spent nearly two decades with Nippon Paint, during which the brand has steadily expanded its footprint in India’s competitive decorative paint market. How would you articulate your overarching vision for the brand and how has that vision evolved under your leadership?

Nippon Paint entered the Indian market in February 2006. Before entering, we studied the market extensively and understood it was dominated by four major players—Asian Paints, Berger Paints, Kansai Nerolac and Dulux. The market was highly competitive, and painter and dealer relationships played a crucial role.

We saw an opportunity for a multi-national to introduce high-tech, eco-friendly and human-friendly paints of international quality. Our strategy focused on functional innovation, something largely absent at the time. We were pioneers in launching exclusive retail paint stores and functional paints—products that did more than just decorate or protect. For instance, we introduced antibacterial paints, odourless paints, heat-reflective coatings, and later, antiviral solutions during Covid. These were significant innovations in a market traditionally focused on aesthetic value alone.

Starting in Tamil Nadu, we expanded across the southern, western, and northern regions. We've held back on the eastern market due to logistics and cost concerns. Today, Nippon Paint is the fifth-largest paint company in India and has diversified into industrial, auto refinish and marine coatings.