Mr Sharad Malhotra, President, Nippon Paint India – Automotive Refinishes & Wood Coatings

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Sharad Malhotra, President, Nippon Paint India – Automotive Refinishes & Wood Coatings

As the economy recovers post Covid, pent-up demand has pushed up consumption within the country. For Union Budget 2021, measures that will boost demand further and aid consumer sentiment remain the most important aspect for our industry. We are also looking forward to the government incentivizing consumers through tax breaks and other measures. We are hopeful of enhanced measures that will increase India’s ranking in Ease of Doing Business and meet Government’s target to scale up manufacturing to 25 per cent of the GDP.

Going into the next decade, smaller cities and towns are expected to be key consumption drivers and we have realigned our business strategy to outperform in the new normal. As further growth opportunities get unlocked, we are confident that our sector will be able to add to the economic growth of the nation.

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