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PPG, Asian Paints renew India joint venture in 15-year agreement

Agreement builds on successful partnership in one of world鈥檚 fastest growing economies

PITTSBURGH--(BUSINESS WIRE)-- PPG (NYSE:PPG) today announced the extension of its joint venture agreement in India with Asian Paints Ltd. The 15-year renewal will allow the companies to continue serving the country鈥檚 industrial, protective, marine, packaging, automotive and powder coatings customers with industry-leading solutions that solve customers鈥� biggest challenges. The extension will take effect in 2026 and run through 2041.

鈥淲e are pleased to announce the renewal of our joint venture with Asian Paints, which is a testament to the past success and strong growth potential in this key market,鈥� said Tim Knavish, PPG chairman and CEO. 鈥淭his decades-long relationship is a key success factor for our business in India, and we look forward to serving customers in this rapidly growing region.鈥�

The partnership was established in 1997 with the formation of a 50-50 joint venture, PPG Asian Paints Private Ltd., to service the automotive, refinish, marine and consumer packaging markets. It was expanded in 2012 with the formation of a separate 50-50 joint venture, Asian Paints PPG Private Ltd., to service the protective and powder coatings market. Both joint ventures will continue to leverage PPG鈥檚 technical expertise and global footprint. PPG will continue to have management control of PPG Asian Paints Private Ltd., and Asian Paints Ltd will have effective management control of Asian Paints PPG Private Ltd. to best utilize the companies鈥� respective strengths.

To learn more about Asian Paints Ltd., visit . To learn more about Asian Paints PPG Ltd., visit .

About Asian Paints Limited

Asian Paints is India鈥檚 leading paint and decor company and ranked among the top eight coatings companies in the world with a consolidated turnover of 鈧� 33,797 crores (鈧� 338 billion) with a market capital of approx. 鈧� 2,276 billion. Asian Paints, along with its subsidiaries, have operations in 14 countries across the world with 26 paint manufacturing facilities, servicing consumers in over 60 countries through Asian Paints, Apco Coatings, Asian Paints Berger, Asian Paints Causeway, SCIB Paints, Taubmans and Kadisco Asian Paints. Asian Paints also offers a wide range of Home D茅cor products and is the leading player in the Integrated D茅cor space in India. To learn more, visit

PPG: WE PROTECT AND BEAUTIFY THE WORLD庐

At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and specialty materials that our customers have trusted for more than 140 years. Through dedication and creativity, we solve our customers鈥� biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 70 countries and reported net sales of $15.8 billion in 2024. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit .

The PPG Logo and We protect and beautify the world are registered trademarks of PPG Industries Ohio, Inc.

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Media Contacts:

Greta Edgar Borza

PPG Corporate Communications

+1 724 316 7552

[email protected]

Parag Rane

Asian Paints Ltd.

+91 9820559673

[email protected]

Source: PPG