SIEMA to focus on steps to increase pump exports

The Southern India Engineering Manufacturers’ Association (SIEMA) will focus for two years on measures to increase export of pumpsets, especially from Coimbatore.

D. Vignesh, the newly-elected president of the Association, told The Hindu on Tuesday that India’s share in the $ 96 billion world pump market is just about 1.5 %. “We plan to bring it to 4 % by 2027,” he said. Very few companies (in India) sell in select overseas markets now. Most of the exports are to African countries. Indian presence in the United States, European Union or south American markets is very low. This is because the types of pumps used in India are very different from those used in other countries. The technology is different.

Further, the world market is tough to break into. However, over the last few years, China made a gain in these markets. In the last 1.5 years, companies world over are looking at alternatives to China. The demand is very good now. “The opportunity seems to be right for us to make an entry into this market,” Mr. Vignesh added.

The Association plans to bring international experts to train the industry here on catering to the global market. “We need handholding. As an Association, we are looking at participating in international expos where our members will display their products,” he added. It also plans to gradually increase production of the smart pumps developed by Si’Tarc. And Si’ Tarc will be developing a slurry pump in a year.

In the domestic market, prices of pumpsets have increased 33 % since January 2021 due to various factors. In fact, the entire cost of sinking a borewell and installing a pumpset has increased because of high fuel and raw material prices. The market is taking a longer than expected time to absorb this increase. “We (companies in Coimbatore) are unable to make a market in countries such as Uttar Pradesh and West Bengal because of costs. Companies from Gujarat have an edge in these markets,” he said. Exports are an option for Coimbatore pumpset manufacturers to grow, Mr. Vignesh added.

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Printable version | Aug 9, 2022 8:06:17 pm |