CCI Approves JSW Paints Acquisition of Akzo Nobel India Stake, Set to Reshape Paints Market

The Competition Commission of India (CCI) has given its nod to JSW Paints’ proposal to acquire up to a 75% stake in Akzo Nobel India, the domestic arm of the Dutch paint maker. This significant deal, announced earlier in June, positions JSW Paints to become the fourth-largest player in India’s competitive paints sector.

JSW Paints, part of the $23 billion JSW Group, is relatively young compared to established rivals like Asian Paints, Berger Paints, and Kansai Nerolac. However, the acquisition marks a bold step in the company’s strategy to expand its market presence and challenge industry leaders. With this move, JSW Paints will gain access to Akzo Nobel’s product portfolio, established dealer network, and brand equity in India.

India’s paints industry has been witnessing intense competition and consolidation. Raw material costs have been on the rise, pressuring margins for manufacturers, while consumer demand remains robust, particularly in decorative paints. At the same time, new entrants are shaking up the market. Grasim Industries, for instance, launched its Birla Opus brand in 2024, quickly making inroads into the segment and sparking legal disputes with Asian Paints over alleged anti-competitive practices.

JSW Paints has itself previously accused Asian Paints of unfair business practices, but the complaint was dismissed by the CCI in 2022. Now, with this acquisition, JSW Paints is better positioned to compete not just on pricing but also on scale, distribution, and brand recall.

Analysts believe the deal could be a game-changer, reshaping India’s paint industry dynamics. By combining JSW Paints’ financial muscle with Akzo Nobel’s legacy in India, the merged entity is expected to pose a stronger challenge to incumbents. For consumers, this could mean greater product variety and more competitive pricing in the coming years.

The paints sector, valued at over ₹70,000 crore, is poised for steady growth, driven by urbanization, rising incomes, and increased home improvement spending. With CCI’s approval, JSW Paints’ ambitious expansion plans are set to take off, potentially transforming the market landscape.