JSW Paints will buy Dutch paint maker Akzo Nobel's Indian arm for about $1.6 billion, in what will be the country's biggest deal yet in the sector as competition intensifies between established players and new entrants.

JSW Paints is expanding despite increasing competition from new players such as billionaire Kumar Birla’s Birla Opus.

JSW Paints Limited has signed definitive agreements to acquire a 74.76 percent stake in Akzo Nobel India Limited for up to ₹8,986 crore.