Sometimes it is intriguing when you produce a lot and that too with international standards but fail to meet the product demand. That's what is happening in the Indian pump industry. The pump industry that begun to take shape in 1905 is entering a different phase today, after going through various stages in the last 100-odd years. Globalisation has played an important role in this development with more foreign players entering the Indian pump industry. In spite of various avenues ready to be explored, Indian pump companies are focused on the water pump demands of the local market.
The Indian pump industry, at one point of time, was not very conscious about modernisation and upgradation and was quite satisfied with its regular approach. However, globalisation, which has opened the doors of India to multinationals, coupled with growing concerns of pollution control, water and waste –water treatment, and demand for energy –efficient systems have changed the scenario completely. Pump manufactures in India are continuously improving the engineering expertise to enhance productivity, quality and service to customer.
Although the positives of the sector have helped the industry rise amongst the other constituents of the Indian economy, still the sector faces many challenges which threaten to hamper its growth potential. Factors like global economic slowdown which has hampered the growth of many a sectors, increased input costs & pressure of keeping output costs low, growth of the unorganized sector churning out low-cost pump appliances and redundant R&D mechanisms wherein industry plagiarism is the norm; have slowed down the growth of the industry with a greater force.
While the domestic manufacturers have to up the quality of their product lines, efforts should also be made to reduce imports by strategically imparting newer technologies to the indigenous product range. A significant growth driver, incorporation of newer technologies by domestic players will greatly reduce the dependency on foreign players for technological innovations, thus reducing the input costs which in the long run can help in reaching out to the untapped markets with price-efficient product range.
Impetus going forward should also be made on creating energy-efficient technologies. The industry’s impetus on creating an energy-efficient line of products is another growth driver which will help in creating a greater outreach of the sector in the Indian economy. Usage of more efficient materials of construction is also considered to play a greater role in the coming future, as the impetus of the manufacturers is now moving towards usage of efficient materials to create a better line of products. These new age products will formulate the growth of the sector in the coming time and will help the manufacturers reach out to markets which were virtually untapped before.
Keeping in focus the need of the hour which is to tap the greatest number of consumers by cost-efficient yet technologically innovative product range, which holds the key for a greater development of the Indian pump sector in coming times CII Coimbatore Zone organized a National Conference on Pumps with the theme “Future of Pumps and Systems on 24 – 25 January 2014 at Coimbatore.
This Conference had speakers nationally and were targeting 200 delegates including the CEO’s, Directors and top level Managers of the pump industry across the country.
You will get access to following Knowledge Resources by subscribing to the Digital
Library of this event.