Asserting that India offers a huge opportunity, Denmark-based pump manufacturer Grundfos on Sunday said it is making efforts to come up with an affordable innovation for the groundwater market in the country.
It also said 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 here.
The company, which is also into water technology, has many groundwater solutions but for many states in India its products are not affordable when compared to other locally available alternatives, he said.
"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.
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The company is eager to have a broader presence than only in the premium market but it would never sell anything which was not differentiated, Nipper added.
"Because if we don't differentiate we are competing at the terms of others and then we will lose," he explained.
Elaborating further, Nipper 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 has an annual production capacity of more than 17 million pump units.
The company has a wholly-owned subsidiary in India -- Grundfos Pumps India Ltd. The company's main products include circulator pumps for heating and air-conditioning as well as other centrifugal pumps for industry, water supply and sewage, among others.
Around 40 per cent business of Grundfos Pumps India comes from the southern part of the country, followed by west (30 per cent), north (20 per cent) and rest from the east.
Grundfos Pumps India earlier said it plans to spend Rs 125 crore over three years to develop new sustainability-focused products and services.
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