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Private Sector | Tamil Nadu - India | PID: 202814
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Grundfos aims to maintain double-digit growth going forward, as the Denmark-based pump maker eyes opportunities to expand its business in the country.
The company offers energy-efficient pumps, motors and related products in four business divisions - industrial solutions, commercial building services, domestic or residential building services and water utilities. In the context of commercial buildings and government, it seeks to provide its water and energy-saving solutions.
Currently, the industrial solutions segment is a growth driver, with sectors like mobility, food and beverages and pharmaceuticals and even renewables as an emerging focus area. The company’s growth is being driven by Tier-II-and -III towns, due to urbanisation in major cities. Grundfos’ operations in India now include design and assembly also, and a major portion of embedded software required in pumps is done out of the software division, located inside in Chennai.
Grundfos Indian operations will continue its efforts to increase localisation in its products to be cost-competitive. While the overall localisation level is about 40 percent, the company further aims to take it to about 60 percent level in the next three to five years. However, in some products like motors, the localisation level is 85-90 percent. The company's management is also contemplating making India an export hub for some products.
| Updated on: 29 - Apr - 2024
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