The month of July is going to be loaded with lot of action. The first budget of the re-elected Government by a new Finance Minister is awaited with huge expectations.
While the rain gods dampened some of the Cricket World Cup's crucial matches it costed the broadcasters very dearly. The Cricket for Crown will come to a close by mid of July. Luckily for India only one match against New Zealand was washed out completely. Just another 2 more fixtures and then the final countdown. Hopefully “Men in Blue – who are playing one of their best games” would lift the cup for the third time.
Back home water crisis is creating havoc in the construction sector. Recent news on 'Karnataka Government toying with the idea of banning housing construction for five years due to water crisis & Tamilnadu Government urging Centre to announce the state as 'drought hit' is very disturbing. Even our Prime Minister touched upon this point during his “Mann ki Baat”. Thank God!! Nature showed some mercy as monsoon picked up momentum in the last week across all parts of the country. With good monsoon the festive season should be quite impressive.
With respect to our industry, crude prices continue its fall. Except for some additives & pigments the other major raw material prices are more or less stable. What surprised me was, two major foreign passenger car makers had their India launch while the segment was witnessing volume drop for the third month in a row. Yes, you heard it right “nature favours the brave”!
Having completed its basic infra set up Paints & Coatings Skill Council is stepping into its 5th successful year under the new leadership of Mr.Jagdish Acharya. Join me in wishing them all the best in their endeavours.
Indian Paint Association
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