Denmark based water pump maker, Grundfos is planning to create products to have a positive impact on climate and affordable innovation for the groundwater market in the country.
Targeting Indian and African markets of Solar powered pumps, Denmark-based pump manufacturer Grundfos yesterday announced that the company is working on affordable innovation.
Grundfos added that products like solar-powered pumps and water treatment solutions have big potential in India.
“India is a country hopefully on a rise in terms of prosperity and also in industrialisation… We are actually trying right now to create an innovation which is more affordable for Indian groundwater market,” the company’s CEO and Group President Mads Nipper told reporters.
Globally, Grundfos develops, produces and sells pump solutions which help reduce water-related challenges around the world. It constantly focuses on energy efficiency and high quality products. But in India, its products are not affordable when compared to other locally available alternatives.
“But our solution just happens to be more sustainable. So why not we have an innovation? How if it could be true localisation? Make some of our more efficient solutions more affordable to spread them out even more in India… so that is one of the things which we are doing which is quite unusual,” he added.
The company is eager to expand its presence into the local market away from the premium market but Nipper added that it would stay away from selling anything which was not differentiated.
Nipper later elaborated and said solar-powered submersible products, as well as water distribution and water treatment solutions, have a big potential in India.
“Commercial building base is one way we have even greater opportunities….I know globally that might be very relevant and in India as well. Globally, one of our biggest opportunities in coming five to 10 years will be cooling of data centres because data centres are one of the world’s biggest energy consumers,” he said.
Grundfos which has an annual production capacity of more than 17 million pump units, currently has got the in-principle approval for India-based project. The company plans to invest ₹20 crore within this year which forms a part of a ₹125-crore investment for growing its Indian business.
According to sources, Grundfos has already purchased around 15 acres of land in Tamil Nadu for the Indian project and a group had been formed to which will spearhead this project.
The company has a wholly-owned subsidiary in India — Grundfos Pumps India Ltd which sells circulator pumps for heating and air-conditioning as well as other centrifugal pumps for industry, water supply and sewage, among others.
Around 40 percent business of Grundfos Pumps India comes from the southern part of the country, followed by the west (30 percent), north (20 percent) and rest from the east.
In other news, Grundfos has won the award for Company of the Year in the global water and wastewater pumps market at the annual awards show of consultancy company Frost & Sullivan held in London last month.