First meeting of ceos of indian valve and actuator manufacturers
IVAMA Association organized first meeting of CEOs of Indian Valve and Actuator Manufacturers on Monday, 06thJanuary 2020 at Hotel Taj Vivanta, Coimbatore between 3.30 to 5.30 pm. It was attended by twenty two companies.
Mr Arvind K Goel, Chairman of the Association and Managing Director of Auma IndiaPrivate Limited welcomed all present at the meeting. He briefed the gathering of why the IVAMA Association is formed and the purpose and objectives of the association.
2. IVAMA ASSOCIATION ACTIVITIESR
Muruganantham, Director Generalof the Associationpresented the completed activities of IVAMA Association.
He also presented the Expectations of members collected through membership application form.He explained various steps taken by the association to address the above expectations. He also briefed about the current status of membership.To create more awareness, it was also discussed to write to end users, EPC Contractors, Engineering Consultants about the association.
Valve Technology Conclave is conducted in May of every year in Coimbatore. It is planned to conduct the same this year. He also described the Calendar of Eventsdrawn up for the year 2020.
3.STATE OF VALVE AND ACTUATOR INDUSTRY
Mr Arvind Goel presented the State of Valve and Actuator Industry. He mentioned that the year 2019 was not an easy year. Indian economy has been facing challenges and these get reflected in the performance of the companies in the valves and actuators sector. Uneven situation across sectors.
Therefore, some valve manufacturers observed a good growth in their business, but some others had a downturn. Overall there was low growth or even flat state.He expressed that the year 2020 is likely to more like 2019.
Significant slowdown in private sector investments in capacity building likely to impact demand negatively.Much higher dependence on public sector investments.
4.MCILVAINE SUPPORT TO IVAMA ASSOCIATION
Mr R Ramesh Babu, Director of IVAMA Association and Managing Director of Velan Valves India PvtLtdexplained that market analysis plays very vital role in conducting the business. To support the members, he announced that IVAMA Association has signed one year agreement with leading international market research company, Mcilvaine Company, USA.
5.EFFECT OF US-CHINA TRADE AGREEMENT
Mr Ramesh Babu also discussed the effect of US-China Trade Agreement as it has greater impact on export market.
In addition to expectations of members collected through application form, it was also decided to have personal interactions with CEOs present to understand their views on Valve and Actuator Industry and their expectations.
This session was moderated by Mr Pranay S Garg, Vice Chairman of IVAMA Association and Joint Managing Director, Advance Valves Private Limited.
7. VOTE OF THANKS
The meeting concluded with a vote of thanks by Mr Pranay Garg and all adjourned for Hi-Tea.
For the presentations, pl Click here.