Mumbai, Oct. 16 -- India's leading paintmakers Asian Paints and Berger Paints are raising prices for the second time this fiscal year, ahead of Diwali. The move comes as crude oil prices cross $100 a barrel, heightening cost pressures from raw materials, packaging, and logistics just as demand picks up during the festive season.

Asian Paints Ltd, the country's largest paintmaker, will increase prices by an indicative 3% across its product range from 1 November, according to dealer communications issued by the company and seen by Mint. In a letter dated 25 September, the firm attributed the revision to geopolitical developments that have driven a "substantial increase in the cost of raw materials, packaging and logistics". Detailed inform...