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Industry & Competitive Context The Indian decorative paints industry has, for the past two decades, been structured around a small number of large, well-capitalised players competing on brand salience, dealer/tinting-machine network reach, and increasingly, product-technology differentiation. Kansai Nerolac Paints Limited (KNPL), the Indian subsidiary of Japan's Kansai Paint Co., has historically been described in financial press coverage as the second-largest paint company i