'India Is Best Positioned To Realise Growth'
Grundfos CEO Mads Nipper says India offers a combination of rising demography profile and infrastructure
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The Indian economy is best positioned to have growth, says Mads Nipper, group president and CEO at Grundfos. “India as a country offers a combination of rising demography profile and infrastructure. The fact that there is an increasing number of educated people definitely proves to be an advantage for India,” he adds. Grundfos is the world’s biggest pump manufacturer with an annual production of more than 16 million pump units.
Could you throw some light on Grundfos’ operations globally? How do you think you can contribute to a sustainable development?
We are the world’s biggest pump manufacturers with an annual production of more than 16 million pump units. We supply a broad range of equipment and solutions designed specifically for water utility applications and are at the forefront in promoting energy efficiency and sustainable technology, ensuring that water supply and wastewater facilities meet future challenges and regulations.
Currently, 650 million people around the world lack access to clean water. Not only do we make pumps which can energy efficiently transport water, but surely through the water cleaning technologies we ensure we give clean drinking water to people. May be less well known to many, electrical pumps on an average actually is around 10 per cent of the total world electricity consumption.
Pumps are everywhere - some are very old and some operate on every basic technology. But even with exiting technology, those 10 per cent of world electricity consumption can be brought down to 5. We at Grundfos set the highest energy efficiency standard prompting many other companies to enter the sector. As a business person, that is annoying but overall it is good for the world. So, all in all, we at Grundfos have the potential to affect the total world electricity consumption by percentages.
We love to sell pumps but we also care about how and where we sell it and what difference we can make, whether it is in London or in any refugee camps. We are more than a commercial business today, somebody who cares about giving good wality drinking water to the world.
What do you think about the Indian market and its growth rate?
Well, the Indian economy is best positioned to have growth. The best part is that it is not over dependent on raw material that are on heavy pressure. Also, it is not like Russia and Middle East that depend on energy exports which fluctuate heavily. In fact, it is also less dependent on trade with China unlike most other markets that depend on it. What’s more, India as a country offers a combination of rising demography profile and infrastructure. The fact that there is an increasing number of educated people definitely proves to be an advantage for India.
The Modi government has recently completed 2 years. Could you throw some light on its Make in India initiative and the ease of doing business in India?
Overall, there is definitely a willingness to make reforms and that in itself is a positive approach. It is taking the right steps. However, it needs to be stubborn and focussed in its approach.
India is a complex country to get into and there are certain things that can make it difficult like for instance, getting the visa. We have established our presence in India with our headquarter in Chennai and we have had a very positive relationship with the local authorities. Overall we are optimistic about our expansion plans in the country.
Also Read | Grundfos Robust On India Expansion
(The author went on a sponsored trip by Grundfos to its headquarter in Denmark)