The Indian pumps and valves industry merits appreciation for meeting today’s demand of the latest cutting-edge technological challenges for virtually all the end-use sectors. The industry has capabilities to meet specifications of various sizes, materials of constructions and their operational sophistications.
The pumps and valves industry in India is characterised by the presence of several international vendors, including significant numbers of small and mid-sized regional vendors. The Indian vendors are competing directly with global players, and have competitively positioned themselves by establishing wide distribution channels. Indian products are much cheaper when compared to global vendors. In terms of product pricing, the small regional vendors are comparatively better-positioned than their larger counterparts.
The exposure to global competition has prompted Indian Industry to work with good foresight and resilience to adapt to emerging trends, be it compliance with the requirements of Quality systems such as the ISO, CE, DIN, API, ANSI etc series of standards; or emergence of Energy Efficient Systems and Intelligent Process Equipment Systems technologies; or high-end customised products where Indian MSMEs specialise themselves in global markets.
EEPC India is the premier trade and investment promotion organisation in India. It is sponsored by the Ministry of Commerce and Industry, Government of India and caters to the Indian engineering sector. As an advisory body it actively contributes to the policies of Government of India and acts as an interface between the engineering industry and the Government. Set up in 1955, EEPC India now has a membership base of over 13,000 which includes PSUs, Corporates, SMEs, Chambers and Associations, State Trade Promotion Bodies and so on, of which over 70% belong to MSMEs.
The main objective is to promote trade, joint ventures, strategic partnerships, and investments, and act as a catalyst in the promotion of trade, investment and strategic partnerships.
EEPC India has 42 dedicated panels for various engineering products and services including Pumps and Valves. Through this panel it extends the benefits of various Government schemes such as MDA and MAI for trade promotion globally. Annually, EEPC participates in the global trade shows and exhibition and through this panel it acts as a dedicated interface for policy advocacy with the Government and Industry stakeholders.
The Government of India has launched several initiatives which have opened global opportunities of partnerships for the engineering sector. Such initiatives include ‘Make in India,’ ‘Smart Cities,’ ‘Solar Mission,’ ‘Namami Gange,’ and ‘Sagar Mala,’ etc. Apart from this the Government has planned several Industrial Corridors to boost manufacturing across India. These are: Delhi-Mumbai Industrial Corridor (DMIC), Chennai-Bengaluru Industrial Corridor (CBIC), Bengaluru-Mumbai Economic Corridor (BMEC), Vizag-Chennai Industrial Corridor (VCIC), and Amritsar-Kolkata Industrial Corridor (AKIC).
Overall these initiatives have opened immediate investment opportunities of over USD1 trillion. In addition to this they have also opened vast opportunities for the Pumps and Valves market as they are directly related with their end-use sectors such as Construction, Water Management and Supply, Industrial Manufacturing, Energy, Power Generation, Defence and Aerospace, Shipping, and Real Estate, etc.