Newly-launched IVAMA sees potential
India now has its own valve and actuator association, the IVAMA, thanks to the initiative of eleven local companies. Valve World asked Director General Mr. Muruganantham Ramakrishnan for some inside information.
^ The IVAMA was formally launched on 3rd October 2019
Article by David Sear
India has long been an important player and among a few countries globally manufacturing engineered valves thanks to a well-developed system of foundries, valve components, and engineering resources. The valves and actuators they produce are recognised for quality and play a vital role in most process industries such as water supply and treatment, power generation, oil & gas, refining and supply, metal extraction, chemical & fertilizers, and general engineering industries,” explains Mr. Muruganantham by way of introduction.
The IVAMA has a strong focus on networking, information sharing and technical training,” says Director General Mr. Muruganantham
“Now, whilst there are dedicated industry associations in almost all the major valve and actuator manufacturing countries, until quite recently this was not the case in India,” he continues. “This prompted eleven major industry players, namely Advance Valves, Auma, GM Engineering, Kitz, L&T Valves, Microfinish, Oswal, Rotork, Schuf, Trillium, and Velan Valves to get together to set up the IVAMA.”
The Indian Valve and Actuator Manufacturers Association (IVAMA) is a non-profit organization representing producers of valves and actuators. The association was registered on 25th September 2019 with the formal launch conducted on 3rd October 2019 on the sidelines of the Flow Control Exchange Conference in Mumbai.
“The objectives of this association are to provide a platform for valve and actuator manufacturers located in India for business and networking opportunities; to promote training, workshops, seminars in the industry; to assist in the preparation of standards and specifications; to liaise with government bodies; to share information pertaining to the valve and actuator industry and to develop and share best practices beneficial to the industry,” states Mr. Muruganantham.
Mr. Muruganantham further indicates that the Indian valve industry comprises a healthy presence of Indian-owned manufacturing units as well as Indian operations of practically all the major global players in the area of valves and actuators. There are over a hundred major valve manufacturers in India with a much larger base of smaller manufacturers. He estimates that of the total valves and actuators industry of USD 60 billion, India accounts for over USD 2 billion, with almost half coming from exports.
Asked about subsequent steps, Mr. Muruganantham indicates that the next meeting is scheduled for early in January 2020. “We have started to promote the IVAMA and fully expect that, within the coming nine months, we will see some 100 companies from throughout India joining the IVAMA. The IVAMA will also be reaching out to sister associations in the USA, the UK, etc.”
Summing up, Mr. Muruganantham sees a bright future ahead for valve and actuator manufacturers in India. “The current size of the valve and actuator industry in India is around USD 2 billion per year. We estimate there is a potential for growth up to 25 per cent during the coming two to three years.”
Mr. Arvind K Goel, Managing Director of Auma India, is the Founding Chairman, Mr. Pranay S Garg, Joint Managing Director of Advance Valves is the Founding Vice-Chairman and Mr. Muruganantham Ramakrishnan has been appointed the Director General of the IVAMA.