Asian Paints, India's largest paint manufacturer, has approved an investment of up to Rs 2,000 crore for a new water-based paint manufacturing facility. 

The greenfield unit will be established in Indore, Madhya Pradesh, with an annual production capacity of four lakh kilolitres, which will significantly increase the company’s overall capacity to 26 lakh kilolitres.

The land for the facility has already been secured, and the company is in the process of obtaining the necessary approvals.

The plant is expected to be commissioned within three years after the land acquisition is complete.

This expansion is driven by a surge in demand, fueled by government infrastructure projects and a revival in the automotive sector. 

The new plant will further solidify Asian Paints' manufacturing presence across India.