Coimbatore, Aug 5 (KNN) Motor and pump industry in India has the inherent potential to tap export market, said Hans Raj Verma, Additional Chief Secretary, and Chairman and Managing Director, Tamil Nadu Industrial Investment Corporation on Friday.

Inaugurating ICOMP ‘23 (International Conference on Motors and Pumps), he said this can be done substantially through making investments in technology, skill training of youth for better productivity, and transitioning to renewable energy.

High-pressure, and high-grade alloy pumps were in demand in Oil and Gas industries, and diesel plants, added Verma.

The event was organised by Southern India Engineering Manufacturers Association (SIEMA), Indian Pump Manufacturers Association, and Rajkot Engineering Association in Coimbatore.

There was now a high scope for tapping the export market going by the positioning of India in the geo-political context, he said, referring to the theme of the event: Conquering Global Markets.

Reminding pump industries of Prime Minister Narendra Modi’s promise at the 26th Conference of Parties in Glasgow that India will achieve net-zero emissions by 2070, Verma emphasised on harnessing renewable energy at the earliest and reduction of carbon footprint. 

He urged the pump industry majors to take MSME vendors on board with regard to BRSR (Business Responsibility and Sustainability Report) framework for ESG (Environmental, Social and Governance) reporting mandated by SEBI (Securities and Exchange Board of India).   (KNN Bureau)