Southern India Engineering Manufacturers’ Association (SIEMA) held its 68th Annual General Meeting on Wednesday.
The current President of the Association KV Karthik expressed that while Coimbatore contributes 55% of total pump production of India, in the recent years it has faced serious disturbance due to pandemic and hike in raw materials cost.
Raw materials cost hike has led to an increase in cost of manufacturing by a minimum of 30%. The President appealed the Central Government and the PM to interfere in this matter and bring down the Raw Materials cost. Earlier he thanked the Prime Minister of India for the ‘One-District, One-Product’ scheme under the target of $400 Billion in exports.
He also expressed his gratitude to CM of Tamil Nadu MK Stalin for including Pumps as the product of Coimbatore. He said this announcement will facilitate central funding in establishing several common facility center for pumps in our district.
The global market for pumps is estimated to be of $800 billion with India contributing less than 2% of it. Weighing the current scenario, increasing competitiveness of Indian pumpsets, and the support from the Govt., Karthik expressed that Covai will become the pump city of the world in a few decades.
Heads of Associations like Indian Chamber of Commerce and Industry, Coimbatore; CODISSIA and CO India were present along with SIEMA’s members.
Karthik also highlighted the role of All India Council of Association of MSME (AICA) and how it is voicing the concerns of MSME in unison to the Govt.
He happily stated that SIEMA and its members had done Relief activities worth Rs. 10 crore, organized Vaccination drive for its stakeholders as well.
Later it was conveyed at the event that K.V. Karthik, who is the Managing Director of Deccan Industries was re-elected the association’s President and Vignesh of Ellen Pumps, Mithun Ramdass of Mahendra Pumps and Ma. Sendilkumar of Supertec Industries were re-elected as Vice Presidents.