New Delhi, July 8 -- Decorative paint companies have implemented staggered 14-16% price hikes so far to offset input cost inflation driven by elevated crude oil costs and a depreciating rupee.

Recently, hopes of de-escalation in the West Asia war have brought Brent crude oil prices down to $75-80/barrel from over $100/barrel. The Indian rupee is gradually appreciating, and supply chain constraints for importing crude-based raw materials used to make paints are said to have eased.

These factors provide paint companies with room to cut prices and boost volumes. After all, before the West Asia war broke out, competition for market share gains among incumbents and new entrants was intense. Pricing/discount strategies were key to luring deal...