OSAKA -- Kansai Paint plans to invest as much as 9 billion yen ($82.3 million) to build two factories in India, looking to boost its paint output in the country roughly 40% by 2020.
India's paint market is growing more than 15% annually thanks to deregulation initiated by Prime Minister Narendra Modi's government, and nationwide sales are expected to top $9 billion in several years. The Osaka-based chemical company intends to increase support for local distributors as output ramps up.