The Future of Emerging Markets
Breaking the Barriers for Growth
Dr Großmann too has the same opinion, “The process sector is poised for growth. The opportunities this initiative presents are manifold. In manufacturing, process industries such as food processing, oil & gas and healthcare will adapt further factory automation whereby the resources will be utilized much better and qualitative output will become a hallmark of India.”
Goel too feels that the Indian process industry is coming of age and there are more and more Indian EPCs supplying products and equipment globally. “While these may not be at the highest end of technology, a beginning has been made with growing acceptances of equipments and technologies from India. It is believed that there will be high growth in this area owing to the advantages of Indian solutions.
Companies such as Freudenberg Group, Burckhardt Compression and Auma have a long standing relationship with India and continue to invest in the sub-continent. Speaking on the potential the Group sees in the country, Dr Großmann points out, “Freudenberg has always been positive of the latent potential India has to offer. We will continue to invest in India with a long term view and engage in the local market across industries.”
Apart from the various investments the company makes on a regular basis in India, one significant project is the new production site of Chem-Trend and Klüber Lubrication in Mysore, which will be open this year.
“We have invested around `135 crore— one of the largest investments in the Asia-Pacific region of the Freudenberg Group. This is where more than 20 products will be developed and manufactured for the customers in the South East Asia/Pacific region. The site at Mysore—buildings with a surface area of 17,000 m2 on a site of some 40,000 m2—also hosts product development facilities and major tribology testing facilities with equipment such as an FZG test rig. Outside Munich, Klüber India is the only facility that has one,” informs Dr Großmann.
Ready for the Coming Boom
Burckhardt Compression India (BCIN) too has its operations based in India for more than two decades and caters to various market segments in the process sector such as upstream oil & gas, gas transport & storage, refineries, petrochemicals plants (including fertilizer and chemical markets), and industrial gas markets.
“During this period, BCIN has already made sufficient investments and is well positioned to cater to the boom in the process sector as it happens. With its continuous innovation and the relentless effort of its experienced team to solve the complex problems of its clients, it is well positioned to deliver in the dynamically changing environment. We are here for a long haul and want to share our experience and expertise in the growth of India,” articulates Rao.