Pump set manufacturers here will look at exporting more to the U.S., and African countries as these are huge markets, according to V. Lakshminarayanaswamy, president of Southern India Engineering Manufacturers’ Association.
He told The Hindu here on Wednesday that though manufacturers here manufacture mainly domestic and agricultural pump sets, they can look at pump sets for other sectors too, depending on the demand in these markets.
The association will organise a meeting with the Indo-American Chamber next week.
The U.S. market is one of the largest markets and most of its pump set needs are met by China. There are some manufacturing companies in the U.S. and these source their requirements from China.
Another major market that can be tapped is Africa.
The association has appealed to the Federation of Indian Export Organisations to bring a delegation to Coimbatore from the African Consulates so that they can see the products made here. China is a major supplier in the African countries too.
Export of pump sets from Coimbatore is worth about Rs. 500 crore a year and most of it is to the west Asian countries. More number of manufacturers can look at exports and they can tap new markets, he said.
They can sell directly, even in their brand, in the African market. In the case of the U.S. market, they need to look at supplying to bigger buyers. The domestic market for pump sets had been sluggish since last October.
The demand now is almost 20 per cent less than last year. The domestic demand is expected to revive in October or in January.
The monsoon has set in late and sowing has been delayed in several parts of the country.
Hence, the demand for pump sets had also not gone up to expected levels. In the case of domestic pump sets, with the Government’s focus on affordable housing, construction activity is likely to pick up soon.
This is expected to create a demand for pump sets, he said.