K.V. Karthik from Deccan Industries becomes Indian Pump Assoc. President

livemint.com:

Chennai, 25 August 2023: Mr K.V. Karthik, Managing Director, Deccan Industries, one of India’s leading pump manufacturing companies, headquartered in Coimbatore, has been elected as the president of Indian Pump Manufacturers Association (IPMA), the country’s premier body representing the US$ 2 billion pump manufacturing sector, for 2023-24. Mr.

Karthik is the 39th president of IPMA. He was elected at the 72nd Annual General Meeting of IPMA held recently at Coimbatore, which was attended by Mr. R.

Kumaravelu, Managing Director, Aquasub Group as the Chief Guest and IPMA’s members from across the country including Pune, Ahmedabad, and Rajkot. While thanking the IPMA members for having elected him as their president, Mr Karthik said that he would focus on increasing the synergy between IPMA, The Southern India Engineering Manufacturers’ Association and Rajkot Engineering Association, the two other major industry bodies represent the 1500-odd pump manufacturers in the organised sector. “We need to promote collaboration among the units which would pave the way for cost savings, improved product design & collective sourcing, and thus help the sector address the global demand of diverse product offerings and competitive pricing." India’s pump industry is 100 years old.

It manufactures more than more than 1 million pumps every year. Agriculture and residential sectors comprise 46% of the market by value, while the industrial sector comprises the rest. The industry is expected to reach US$ 100 billion by 2026, growing at a CAGR of 4% during 2021-2026.

India exports pumps to 100+ countries. The sector is providing employment to around 1,20,000 people. Commenting about the strengths and opportunities of the industry, Mr Karthik said