Kolkata, Aug 3 (IANS) Betting big on a spur in infrastructure spend by the government, Berger Paints India will launch new products in coatings and construction chemicals, the company’s chairman said here on Monday.
It will also reformulate some decorative products, he added.
“Increase in infrastructure investment is expected to be one of the crucial factors for sustaining strong growth during the current (fiscal) period,” chairman Kuldip Singh Dhingra said.
He estimated that the infrastructure investment would surge to 12.1 percent of the country’s GDP by the fiscal year ending March 31, 2020.
“Monsoon so far has been good… The inflation, particularly the wholesale index, is in control and even independent agencies opine that India’s growth will be faster than China in 2016”, Dhingra said.
Internationally, the Indo-Iran deal is expected to lower oil prices and the Greece bailout programme undertaken may help boost confidence in the market.
“In the near term, there are positive news from all fronts,” the official said.
The company has planned a series of new product launches with “unique properties” in texture and wood coatings and construction chemicals business verticals.
The company will also reformulate some of its decorative paint products for better finish and durability and introduce new offerings in the water-based and enamel-based ranges.
Dhingra said the company expects a rise in its production efficiency, reduction in cost of doing business and improved standard of living of the common man to boost demand of paints.