Consumer durables firm Usha International has launched a series of new water pump models setting eyes on the sector for its growth, a top company official said Sunday.
Consumer durables firm Usha International has launched a series of new water pump models setting eyes on the sector for its growth, a top company official said Sunday. The company which launched two products under the water pump segment has launched three more models recently, Usha International, President Electric Fans and Pumps told PTI.
“We are now focusing on water pump category and want to launch further categories mainly suitable for market requirements.. We put together a complete team here and appointed distributors and business partner..,” he said.
Basically, the move is to expand the footprint in Chennai and Tamil Nadu and then South India as a whole, he said. Asked for reasons to focus on expanding the water pump business, he said, “one — the market has been growing and there was a need for replacement market and with Usha, which is well established we are also looking at expanding water pump business”. “Main focus is to expand pumps business as a category. We are launching five more products under pumps business. Already two have been launched, three we are launching..,” he said.
Noting that the water pumps business was valued at around Rs 12,000 crore he said, it was growing at a rate of 8-10 per cent year-on-year, and expected it to continue on the base of “new products and innovations”. Asked about the outlook for water pumps business, he said the company was expecting water pumps category to grow at 3-4 times the rate of the industry.
“We are looking at 200-300 per cent expansion in our network for pumps business (exclusive outlets and multi-product outlets),” he said.