The Indian pump industry is growing at an annual CAGR of ~10 per cent - which is higher than the international CAGR average of ~6 per cent - due to the surge in infrastructure development, growth in agriculture and other water intensive industries.
Indian Pumps Industry Has Grown Steadily
With the implementation of the norms introduced by BEE, significant amount of standardisation has been brought in place. This has eliminated sub-standard products having lower efficiencies. It is indeed a good step for Indian companies eyeing expansion in the global market.
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