In an interview with CNBC-TV18, Abhijit Roy, MD & CEO of Berger Paints India spoke about the memorandum of understanding (MoU) that is signed with Chugoku Marine Paints.
He said that the company signed MoU to expand product portfolio for marine paints.
He further said that marine paint is currently a small business in India.
MoU with Chugoku Paints could morph into a joint venture going ahead, he added.
Speaking about business, he said FY18 will be significantly better with regards to volume and value growth. However, affordable housing schemes to push paint demand higher, said Roy.
For entire interview, watch accompanying video.
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