Paint industry has likely grown in low-mid-single digits in volume terms in July-Aug’23 and dealers are expecting strong Sept-Oct’23 due to favourable base and delayed Diwali in CY23 - that's the insight from our conversations with paint dealers in Mumbai. They told us: (1) There are still no price cuts. Paint companies are permitting trade to generate higher profitability. However, some dealers are partially passing on the excess benefits to consumers.