How strong is R&D amongst paint companies in India?
Focus and priorities towards research and development (R&D) capability building and ability to undertake cutting edge research varies from company to company. In India most organized players have structured the R&D department in place for product development and market support. However, the risk appetite of Indian companies to invest in building best in class R&D organizations and enabling R&D culture is not at par with globally recognized paint players barring few leading companies. In general, organized players in the Indian paint industry invest in the range of 0.1 - 0.5% of turnover in R&D against 1 - 4% for global paint companies. As a result, R&D activities are primarily short-term centric having focus more on cost reduction, product customization, market support and developing copycats against dominant leading branded products. Focus on long-term R&D and breakthrough innovation for creating unique products which are new to the world or even new to our market is relatively lesser barring top one or two dominant players.
However, the positive aspect of Indian paints R&D is its innovation and agility to re-engineer products quickly to respond to customer needs, introduction of new cost-effective product variants, and ability to customize products to suit Indian climatic conditions and work practices. In a nutshell Indian paints R&Ds are prompt at market focused innovations leading to cost efciency and customized product development.
This story is from the December 2023 / January 2024 edition of COATINGS AND ANTI CORROSION ENGINEERING REVIEW.
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This story is from the December 2023 / January 2024 edition of COATINGS AND ANTI CORROSION ENGINEERING REVIEW.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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