Motor and pump industry in India has the inherent potential to tap export market substantially through making investments in technology, skill training of youth for better productivity, and transitioning to renewable energy, Hans Raj Verma, Additional Chief Secretary, and Chairman and Managing Director, Tamil Nadu Industrial Investment Corporation, said on Friday.
High-pressure, and high-grade alloy pumps were in demand in Oil and Gas industries, and diesel plants, Mr. Hans Raj Verma said, inaugurating ICOMP ‘23 (International Conference on Motors and Pumps) organised by Southern India Engineering Manufacturers Association (SIEMA), Indian Pump Manufacturers Association, and Rajkot Engineering Association here.
There was now a high scope for tapping the export market going by the positioning of India in the geo-political context, he said, referring to the theme of the event: Conquering Global Markets.
Reminding pump industries of Prime Minister Narendra Modi’s promise at the 26th Conference of Parties in Glasgow that India will achieve net-zero emissions by 2070, Mr. Verma emphasised on harnessing renewable energy at the earliest and reduction of carbon footprint.
He urged the pump industry majors to take MSME vendors on board with regard to BRSR (Business Responsibility and Sustainability Report) framework for ESG (Environmental, Social and Governance) reporting mandated by SEBI (Securities and Exchange Board of India). Tamil Nadu was building capacities for hyrdo, wind, solar and off-shore power generation, in pursuit of emergence as Green State. Tamil Nadu had the potential to turn as a hub for green manufacturing, Mr. Verma said.
According to the organisers, ICOMP 2023 was aimed at unlocking the secrets to technological innovations, sustainability, market dynamics, and potent strategies for global expansion. The day-long event encompassed panel discussions, and interactive workshops, enabling participants to acquire actionable insights to fuel growth. ICOMP 2023 also hosted an exhibition showcasing cutting-edge products and solutions from leading pump and motor manufacturers, oﬀering participants the opportunity to explore the latest advancements and engage with industry experts.
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