Wishing the Coating Fraternity, a very Happy Diwali & Prosperous New Year.
It's often said that the season of festivals peps up all around demand and we see bright sunshine after a period of slack demand. This year is no different, record sales by online marketer's amazon & flipkart beating all historical records, bears good for the economy. Such boost in demand is a lifting the general mood of the business all around.
Stability in rupee & and a fall in crude price has given some breathing space and cheer. On the raw material front also barring a few products (like MTO) there is a sense of stability or a marginal slide in prices. Expect the stable or sliding trend of prices to continue in the coming quarters and an easing of pressure on margins.
Elections in four major states in November & December being dubbed as the semifinal to the 2019 general elections may throw up challenges for the economy, as these are being closely monitored by foreign investors. An unexpected result may put pressure on the rupee and stock markets in the short term. We still recommend adequate stocking for manufacturers to insulate against unexpected shocks of shortages or price rise.
IPCA members tour to Vietnam & China Coat 2018 at Guangzhou, China is all set. We invite all members of the fraternity to join the delegation and represent India as a group at the show.
Once again wishing everyone from the coating fraternity a Happy Diwali & Prosperous New Year.