Grundfos targets 6 per cent growth in sales

Leading water pump maker Grundfos is eyeing 6 per cent sales growth for the next year from its operations across the globe, including India.
The company, which has set aside capital for business expansion in India, is also looking at manufacturing its products in the country.
As of now, Grundfos India operations are based in Chennai, where it runs an assembling plant of water pumps. The components for water pumps in this plant are imported.
Grundfos India is responsible for sale of Grundfos products in India, Bangladesh, Bhutan and Maldives.
"We have an overall ambition to grow our sales by 6 per cent per annum," a company spokesperson told PTI.

According to Grundfos Group President and CEO Mads Nipper, Indian economy is best positioned to have growth compared to other economies as it is not over-dependent on resources from other parts of the world, particularly China.

"The Indian economy is not super dependent on raw material and energy exports. You do have rising democratic profile with many educated people as well as improvement in infrastructure," he said.
"India unlike many countries is less dependent on trade with China," he noted, adding that China's shift from becoming an export- and import-driven economy to a consumption-based economy can have negative implications for China's trade partners.

He also noted that the Narendra Modi government should stick to its reform agenda which would help sustain the country in the face of global volatility.
"(There is) willingness of India to make reforms even though it is complex... The two economic challenges are swing in Chinese economy and availability of fossil fuels. India is less dependent on that. So, I am optimistic on Indian economy," Nipper said.
"The Modi government has taken the right steps, but it has also found that it is harder to do that. I think the courage to make reforms is right and they should not give up. The Modi government needs to stay stubborn on reforms agenda," he said.

He also observed that India does not hit the top of the list for ease of doing business and things should get easier from the trade perspective.
With primary focus on new forms of energy and sustainable production, Grundfos is continuously working on high efficiency water pumps and plans to steer its business towards digitisation.
The company, which sees an organic growth of 10 per cent every year, invests about 5 per cent of its turnover into research and development projects.