Asian Paints Says CEOs Growth-Correlation Remark Not Meant To Doubt GDP Data

Asian Paints Ltd. has clarified that Chief Executive Officer Amit Syngle's remarks about the correlation between the gross domestic product and growth in the sector were being "misinterpreted" and was not meant to question the sanctity of the GDP numbers. Speaking to analysts during the earnings call, Syngle had said that India's GDP growth number did not seem to correlate with the level of activity in the underlying sectors like paints, steel or even cement, unlike in the past. "The …