The Competition Commission of India is learnt as having approved JSW paints' acquisition of a stake in Akzo Nobel India. The Sajjan-Jindal promoted JSW Paints had mooted a proposal to acquire a 75 percent stake in the Indian business of Dutch business Akzo Nobel. This proposal for acquisition commenced sometime in June.
Dulux, a popular paint-brand is a significant business within the Indian business of Akzo Nobel. The Dulux brand which has been in business for over a hundred years (started operations in 1929) saw ownership change recently. In 2008, the Akzo Nobel acquired the ownership from ICI India.
Revenues in India's ₹ 75,000 crore paints business have been concerning. Last year in May, the industry concerns arose after Asian Paints' CEO Amit Syngle's comments during an earnings call also caused a flutter among analysts. Brokerage firm ICICI Securities published a report in July 2025 detailing how revenues for India's paints industry had slid by 2 percent - a first in nearly two decades.
The latest acquisition by JSW Paints has been reported at ₹ 8,986 crore and is expected to see consolidation in the paints industry.
