IPMA focuses on increasing export market shares for India-made pumps
The Indian pump manufacturers need to promote collaboration across the industry and save costs, improve product design & collective sourcing, thus helping address the global demand of diverse product by offerings pumps at competitive prices in export markets.
Stating this, K.V. Karthik, the newly elected president of Indian Pump Manufacturers Association (IPMA), said, “We are witnessing an enormous interest in the global market for Indian pumps.”
“Post COVID, pump exports from the country have grown by more than 20%. There is every opportunity for India to be a global leader,” he said.
“IPMA will focus on improving the global share of Indian pumps to make the Indian Pump Industry a lakh crore industry by 2030.”
Karthik also appreciated the Government grants through its department of Heavy Industry towards promoting research and development in advanced pump technologies.
Further, he has pledged to focus on increasing the synergy among member companies.
The 100-year-old pump industry, manufacturing more than more than 1 million pumps every year, is expected to reach a turnover of US$100 billion by 2026, growing at a CAGR of 4% during 2021-2026, he said, pointing out that India-made pumps are exported to 100+ countries.
Commenting about the strengths and opportunities of the industry, Karthik said that Indian companies had a unique opportunity to test their pumps in diverse and tough field conditions, and used their experience to improve technology.
Indian pumps have become world class and can challenge the best in the world. While pumps for agricultural and water supply are the strengths of the Indian companies, the industry is striving to add high value pumps used for mining, waste water, oil and gas to its offerings.
“Growing investments globally in irrigation, water and wastewater, mining, and chemical industries present a tremendous scope,” said Karthik, Managing Director, Deccan Industries, one of India’s leading pump manufacturing companies, headquartered in Coimbatore
He called on the industry to make use of the country’s strength in the IT sector, and up the ante in product design and introduce pumping systems with IoT and smart control features to gain strength in the global market as the customers demand real-time and remote monitoring, optimised energy consumption and predictive maintenance alerts.
He also cautioned that the grey market posed serious challenges to the organised pump industry. The grey market products offer cheap alternatives, but they are made of sub-standard materials; they are inefficient and do not conform to IS standards.
He said that IPMA would work with the government to take strict action against the grey market players.
While thanking the Government for extending all assistance for expanding the global footprint of Indian pumps, he also requested the Government to consider the industry’s plea for “one country, one product, one standard and one certificate” for pumps as multiple certifications through different agencies are affecting the ease of doing business in this sector. Fiinews.com
