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Kansai Paint aims to cover India with 2 new plants

Japanese company banks on growing demand, looks to raise capacity 40%

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.

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