Pump Makers Rally for Policy Support Amid Raw Material Surge

Pump manufacturing associations have applauded the Union Government, led by Prime Minister Narendra Modi, for its timely interventions to maintain national stability amid geopolitical challenges. However, concerns loom over rising raw material costs, posing a threat to the predominantly MSME-driven pump manufacturing sector.

The Indian Pump Manufacturers Association, along with other regional engineering bodies, has proposed targeted policy support, including special working capital credit, relaxed MSME payment norms, increased borrowing limits, and waived safeguard duties on vital raw materials. This plea comes as raw material prices have spiked, notably copper, which has seen a hike of over 50% in the past year.

With copper constituting a quarter of pump production costs, and significant rises in prices of other essential metals like aluminium and steel, industry leaders warn of an existential threat to manufacturers. A phased price revision has been initiated, with further increases projected, emphasizing the critical nature of pumps in agriculture and energy-efficient technology adoption. The industry urges a GST reduction on water pumps to support farmers and manufacturing resilience.