A renewed joint‑venture framework, effective in 2026, is presented as a mechanism to sustain long‑horizon capability delivery across multiple coatings end‑markets, while preserving a dual‑entity governance structure and defined management control.
PPG announced an extension of its joint venture agreement in India with Asian Paints Ltd. as a 15‑year renewal scheduled to take effect in 2026 and run through 2041.
The renewal is explicitly positioned as enabling continuity of service for customers across industrial, protective, marine, packaging, automotive, and powder coatings segments in India, with an emphasis on “industry‑leading solutions” oriented toward customer problem‑solving.
The partnership is described as building on a multi‑decade operating relationship in a fast‑growing economy, with leadership characterising the renewal as both evidence of prior performance and an indicator of future growth potential in the market.
At the disclosure level, Asian Paints’ exchange filing frames the renewal as a “supplementary” extension to existing joint venture agreements and notes that the update does not alter the company’s management/control position under the applicable governance arrangements.

Institutional Structure and Governance of the Renewed Partnership 

The partnership is traced to 1997 with the establishment of a 50‑50 joint venture, PPG Asian Paints Private Ltd., originally constituted to serve automotive, refinish, marine, and consumer packaging markets.
It was expanded in 2012 through a second 50‑50 joint venture, Asian Paints PPG Private Ltd., stated to serve the protective and powder coatings market, thereby separating market focus across two operating vehicles.
Under the renewal, management control remains allocated across the two entities: PPG retains management control of PPG Asian Paints Private Ltd., while Asian Paints retains effective management control of Asian Paints PPG Private Ltd., with the stated intent of leveraging PPG’s technical/global capabilities and Asian Paints’ market understanding/local relationships.

Operational Implications for Customers and Execution Teams 

From a customer‑facing standpoint, the renewal signals that the JV platform intends to keep supporting multiple industrial segments—industrial, protective, marine, packaging, automotive, and powder—without structural discontinuity during the 2026–2041 term.
From a governance standpoint, the NSE filing indicates that supplementary JV agreements were executed on 4 August 2025, extending the partnership while preserving the underlying shareholding and control arrangements, and it provides governance detail such as board composition within the joint ventures.
Specifically, the annexure describes that each JV board comprises four directors, with each partner nominating two directors, suggesting a balanced representation model consistent with 50:50 ownership while still allowing differentiated management control at the operating level.