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The Indian Paint industry, estimated to be a Rs.21,000 Cr. industry, has been growing at a rate of
above 15% for the past few years. The organized players of the industry cater to about 65% of
the overall demand, whereas the unorganized players take care of the remaining 35%, in value
terms. The unorganised players mainly dominate the distemper segment.
Increasing Urbanization
Asian Paints was established on 1 February 1942 by Champaklal H. Choksey, Chimanlal N. Choksi,
Suryakant C. Dani and Arvind R. Vakil. They name their company 'The Asian Oil & Paint Company', a
name that was randomly picked from a telephone directory[citation needed].
1945 Asian Paints touches a turnover of Rs. 3,50,000[citation needed]
1957 66 The family-owned company makes the change to a professionally managed organisation.