Reviewing CCI order, will take appropriate legal recourse: Asian Paints
is reviewing the order passed by fair trade regulator
CCI
directing a probe against the country's leading paint maker for alleged abuse of its dominant position in the market and said it plans to take appropriate legal recourse.
Asian Paints said it will cooperate with the
Competition Commission of India
(CCI) in the investigation over allegations of exclusionary practices.
"The company is currently reviewing the order and will take appropriate legal recourse. The company remains committed to fully cooperating with the CCI during the course of the investigation," Asian Paint said in a late night regulatory filing on Thursday.
Earlier this week, CCI ordered an investigation against Asian Paints for allegedly abusing its dominant position in the market for manufacturing and sales of decorative paint over the complaints filed by Aditya Birla group firm
Grasim Industries
.
Grasim, a new entrant in the domestic paint industry with brand Birla Opus, had accused Asian Paints of engaging in exclusionary practices aimed at stifling its entry and growth in the Indian decorative paint segment.
"The Commission is of the opinion that a prima facie case of contravention of the provisions of section 4(2)(a)(i), 4(2)(c) and 4(2)(d) of the Act by the OP (Asian Paints) is made out in the present matter," CCI said in the order.
Section 4 of the Competition Act, 2002, prohibits
abuse of dominant position
.
CCI has directed its probe unit Director General for an investigation into the allegations and submit a preliminary report within a period of 90 days.
CCI had observed that Asian Paints, by restraining its dealers from dealing with Grasim's Birla Opus by enforcing exclusivity upon them, which is imposition of unfair conditions upon them, found to be in the nature of exploitative conduct.
The CCI order had also clarified that observations made were not a final view on the case merits and directed the DG to conduct the probe without being swayed in any manner whatsoever by the observations made by it.
In the last 5-6 years, several new players have entered the paint market, including
Pidilite
with Haisha Paints, Grasim with its Birla Opus, and JSW Paints.
Besides, pipes and fittings manufacturer
Astral
acquired Gem Paints and JK Cements acquired Acro Paints making its entry into the paint sector.
However, Asian Paints still controls over 50 per cent of the
decorative paint market
in India, followed by Berger Paints, and Kansai Nerolac. According to reports, these three major players in the
Indian paint industry
control over three-fourths of the market.
According to an ICICI Direct report, the size of the India Paint and Coatings Market is estimated at USD 9.60 billion in 2024. It is expected to reach USD 15.04 billion by 2029, growing at a CAGR of 9.38 per cent between 2024 and 2029.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India Gazette
11 minutes ago
- India Gazette
153 countries importing toys from India: Piyush Goyal
New Delhi [India], July 4 (ANI): India's toy industry, once heavily dependent on imports, is now manufacturing domestically and exporting to 153 countries, Union Minister of Commerce and Industry, Piyush Goyal addressing the 16th Toy Biz International B2B Expo 2025 on Friday said as he highlighted this remarkable transformation. He said that this shift has been made possible through consistent policy support, the enforcement of quality standards, and the strengthening of local manufacturing clusters. The implementation of the Quality Control Order (QCO), he added, has helped make India a quality-conscious country and enabled domestic toy manufacturers to meet global benchmarks. The Minister stated that India's population of 1.4 billion offers a vast captive market, which creates a natural advantage for scaling up manufacturing. With this scale, the industry can achieve cost efficiency and become globally competitive. The large domestic market, he said, not only supports expansion but also acts as a foundation for international growth. To capture the global market, Goyal stressed the need for the industry to focus on good branding, attractive packaging, and strong product design. He said that if these three aspects are prioritised, Indian toys can gain stronger appeal across international markets. The growth of the toy industry, Goyal noted, reflects the broader journey of development in the country. He recalled that when Prime Minister Narendra Modi launched the Vocal for Local initiative, it was met with skepticism by many, as foreign products dominated consumer preference. However, under the vision of Atmanirbhar Bharat and the belief that Local can go Global, awareness and support for home-grown industries have steadily increased. Goyal stated that startups developing innovative toy concepts have received significant support through the Pradhan Mantri Mudra Yojana, which has now been extended to 20 years. This, he said, has provided access to collateral-free loans for small businesses. He further informed that to promote domestic production, 18 toy clusters across the country have been supported by the Ministry of MSME. To build on this progress, the Minister said that the government is planning to introduce a new promotional scheme for the toy sector. The scheme, he explained, will aim to help Indian toy manufacturers become world-class by enhancing design capabilities, ensuring quality manufacturing, strengthening packaging, and supporting brand building. With sustained focus on innovation, quality, and market development, Goyal expressed confidence that India's toy industry is poised to become a key player in the global market. (ANI)
India.com
14 minutes ago
- India.com
Days after getting married to Lauren Sanchez, Jeff Bezos gets richer by Rs 63000000000 due to…
Jeff Bezos, the founder of Amazon, has sold a major chunk of his Amazon shares within days after his wedding to Lauren Sanchez. According to a regulatory filing in the US and a report by Bloomberg, Bezos sold more than 3.3 million Amazon shares and earned around $736.7 million from the deal. This will value around Rs 6,300 crore in Indian currency. Why Jeff Bezos Sold Amazon Shares? This stock sale was actually a pre-planned agreement known as a 10b5-1 trading plan. It was already adopted by Bezos in March 2025. These trading plans allow top executives and insiders to sell company shares at scheduled times to avoid any concerns related to the insider trading. As per this plan, Bezos wants to sell up to 25 million Amazon shares by the end of May 2026. What Is Jeff Bezos's Net Worth Bezos, who is now the third-richest person in the world. According to Bloomberg Billionaires Index, he has sold share sales in the past. In 2023 also he sold around 75 million shares of $13.6 billion as per the same method. He had used this method to support other ventures like space exploration company, Blue Origin. His current net worth is around $241 billion. The timing of this latest stock sale was discussed more in the news because it happened after Bezos' wedding to Sanchez in Venice, Italy. The wedding ceremony, held for three days. Many celebrities from the world were invited for the same. According to media reports, the overall cost of the wedding events was around $50 million. Although the share sale happened after the wedding, it has no connection with it and was executed as part of his scheduled trading plan.
Time of India
17 minutes ago
- Time of India
Govt notifies waqf rules to step up property registration and monitoring through central portal
Representative image NEW DELHI: Laying out a detailed process for uploading details of waqf properties registered with Waqf boards on the new Central Waqf Portal launched last month, the govt on Thursday notified the Unified Waqf Management Empowerment Efficiency and Development Rules 2025 dealing with the portal and database of waqf properties and the process for their registration, audit and maintenance of accounts. For instance, the Mutawalli (caretaker) of a waqf, existing on or before April 8, the date of commencement of the Waqf (Amendment) Act, 2025, will need to upload details like boundaries of waqf properties, their use and occupier; the name and address of the creator of the waqf, the mode and date of creation, the deed of waqf, if available; details of beneficiaries; the annual income from waqf properties and details of land-revenue, cesses, taxes payable annually and the purpose for which the waqf was created. The details of all existing waqf properties are to be uploaded on the portal within the stipulated six months as prescribed by the amended law. There are over 9 lakh waqf properties in India as per the data available with the ministry of minority affairs. The new rules also require that after completion of survey, the state govts must publish the list of 'auqaf' (waqf properties) and upload it on the portal and database, within a period of 90 days from the date of publication of the list in the official gazette. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Providers are furious: Internet access without a subscription! Techno Mag Learn More Undo In what clearly shows that delays will not be allowed, the rules make it clear that if the Mutawalli fails to upload details within the stipulated timeframe, he will have to go to the tribunal to seek extension of time. After the Mutawalli files the details, the chief executive officer or any other officer authorised by the Waqf Board will verify the details of the waqf property and certify the authenticity of the information within a fixed timeframe. In case of registration of new waqf properties after April 8, 2025, the Mutawalli will file an application to the board for its registration within three months of its creation. A copy of the waqf deed will be required to be uploaded. In case of inquiry into wrongful declaration of waqf, the designated officer will complete the inquiry and submit their report within a period of one year from the date of reference made to him by the collector. As per the rules the joint secretary in the ministry of minority affairs in charge of the waqf division will be in-charge of the supervision of the portal and database which will include features for real-time monitoring of waqf properties, institutional governance, court cases and dispute resolution, financial oversight resource management and for surveys. Every state govt will have to appoint a nodal officer and establish a centralised support unit for providing assistance in streamlining uploading details of waqf, registration, maintenance of accounts, audit and other related activities of the waqf and the Board. The functioning of the portal and database shall be reviewed at the end of every financial year by an independent agency to be appointed by the central govt. The govt will have to publish the report of the agency and the action taken report on the recommendations of the agency on the portal and database within a period of three months from the date of submission of the report.
