India’s top paintmakers plan second price hike this year as crude crosses $100

However, demand is expected to remain intact. “The price hikes ahead of Diwali are unlikely to dent demand, as consumers who have planned to paint their homes are likely to go ahead with the purchase despite higher prices. Home painting is a discretionary expense, but one that consumers tend to prioritize during the festive season,” said Manoj Menon, head of research at ICICI Securities. Given that the cost of paint forms a relatively small portion of overall painting expenses compared to labour, the impact of the price hike on total job costs will be minimal, Menon said, adding that the increase broadly covers the rise in input costs.