The infrastructural support especially cargo movement by trains and high cost of finance hinder growth of exports of submersible pumps from Pithampur. If these issues are addressed, the industry would record a growth of 12 to 14 percent in coming three years from the current 10 to 12 percent.” These views were expressed by Managing Director of Shakti Pumps ( I) Ltd, Dinesh Patidar, a pioneer of water pumping equipment manufacturer.
He says cargo movement generally takes around 8 days for shipment and this should be reduced by any means. The other challenges on export front are higher cost of finance, supportive tax structure and cost of overseas market development.He expressed confidence that despite all odds they would make steady progress in finding new markets abroad.
Shakti is among the few pioneers in the world produces 100% stainless steel submersible pumps and motors. Today, Shakti is rubbing shoulders with best in the business in the world with its state- of- the art technology and innovation.
Talking about other challenges, Patidar says: ‘ It is very difficult to educate rural customer, who are semi- literate, for a branded product and its features like energy efficiency and performance.
In order to achieve this task, we have hired in brand ambassador like Amitabh Bachchan for promotion of our product, he said.
About potential of water pumping equipment, the MD of BSE- listed Company says: “ While India has huge potential and prospects for pump business, we have technological advantages with high energy efficiency.We are upbeat about future pump business in India while our export business has touched an all time high, this year.
Talking about Indian and MP market, the second generation businessman Patidar says ‘ As you know water technology and water industry have grown tremendously and customers’ preferences are gradually being shifted to branded products.
This has great significance to Indian pump market which has so far been ruled by cheaper local products that consume higher energy. This shifting is a welcome sign. “ We have been on a robust growth path over the years and anticipate great future for pumps in India and overseas.
Our USP is superior quality and energy efficiency with better discharge. Our stainless steel submersible pumps are capable of saving energy up to 40%. Talking about the expansion plan of the company Patidar says ‘ we are foraying into different business verticals like industrial and solar pumps. Our product portfolio largely comprises of full range of agricultural pumps, submersible open well pumps, SRN pumps, Vertical Multistage Pumps, Pressure booster pumps for Industrial and Commercial applications, fire fighting and sewage pumps etc. Newly developed solar pumps are well accepted by customers nationally and internationally.Overall the current pump business prospects in India are quite good.
Patidar Says aall began as a small venture by my late father Shri Manoharlal Patidar- an ordinary man. Seeing a bright future in pump industry, he had invested everything to set up a small factory at Pithampur, near Indore. Later I joined to help him in the venture and realized the great potential of pumps in Indian and export markets and thus synergised all my resources to tap it. In the year 1995, we went to public and got listed at BSE. Referring about Shakti Pumps, Patidar says: ‘ We export our products to 100+ countries. As testimony of this, we had been conferred with best ‘ SEZ Exporter Award’ and 2nd Runner- Up Award for Manufacturer Exporter category in 2012 by Export Credit Guarantee Corporate ( ECGC). Being based in MP, we are proud to be the leader in exports in pump business and one of the major contributors of precious foreign exchange in the country.
Source:- freepressjournal.in
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