Considered one of the largest pump manufacturers in the world, Grundfos Pumps is aiming to double sales to Euro 100 million through its Indian subsidiary in the next three to five years.
This includes setting up of an additional facility near Pune, according to a top company official.
"India is a potential market. We want to double our sales in terms of revenue by two to three years. Currently it is Euro 50 million", Grundfos Management A/S, Group Senior Vice President, Carlo Prola told visiting Indian journalists here.
Stating there was "plenty of opportunities" from India for Grundfos, he said, "we want to increase production in India. We get one of the three big tenders in India."
According to him, 40 per cent of Grundfos production was still in low cost markets, including India and the company was following a strategy of "Think Globally, produce locally".
To a query on how the company was looking at a market like India, he said Grundfos planned to ramp up local content by increasing sourcing of the components.
"Our focus is on local manufacturing and sourcing of local components. We want to focus on developing products specifically for Indian market", he pointed out.
Grundfos Group, Denmark with a turnover of more than Euro four billion, has a presence in 55 countries. It has 11 sales companies in emerging markets, two in China and 26 sales companies in Europe.
The company has more than 50 per cent market share in circulator pump markets, he said.
