Asian Paints' two products in the lower range have received good response and the company believes there is still potential for it to grow, said KBS Anand, MD and CEO of Asian Paints.

“This year we have launched two products - even more economical - called Tractor Emulsion Sparc and Ace Sparc, which have met with a fantastic response. This has further spurred growth at the lower end," said Anand.

"We have been continuously focusing because we see there is still tremendous potential to grow at the bottom of the pyramid from both the unorganised sector as well as to spur painting per se and this has led to widespread volume growth on an ongoing basis but naturally at a lower cost,” he added.

“We have introduced a number of products over the last three years. For example, in the distemper category, we have Tractor Uno and Aqualock, which we have launched in the last three-four years, which are doing exceptionally well and leading to a revival in distemper for us after many years. We have grown there. We are continuously focused on tractor emulsion and Ace over the last two-three years. This has spurred growth,” he said.

“Rural, small towns, tier-II, tier-III towns have been continuously growing faster for us for the last ten years and they continue to do so,” said Anand.