According to P L Muthusekkar, MD, NORD Drivesystems Pvt Ltd, India is poised for a strong GDP growth and is expected to record double digit growth for next few years.

NORD, a global leader in drive technology, is banking on India’s economic growth to boost demand of its products. “Considering the geopolitical and global economic situations, India is poised for a strong GDP growth and is expected to record double digit growth for next few years,” said P L Muthusekkar, Managing Director, NORD Drivesystems Pvt Ltd, which offers product such as geared motors, industrial gear unit, motors, variable speed drives mechanical, and variable frequency drives.

NORD believes that 2020-2030 will be India’s golden decade. Muthusekkar explained, “While government initiatives like Make in India, Start-up India, etc is giving a boost to manufacturing, improvement in Ease of Doing Business ranking will continue to yield the desired results during the golden decade. Also stopping of brain drain and other positive factors (including political stability) will support this growth. The fundamentals and banking reforms are pretty strong and will form the foundation for the golden decade.”

With more than 3,000 employees worldwide, the Germany-headquartered NORD develops, produces and markets drive technology. It is one of the industry’s leading international suppliers of all-in-one solution. In addition to standard drives, NORD supplies application-specific concepts and solutions, including concepts and solutions that fulfil special requirements such as energy-saving drives and explosion-proof systems. Founded in 1965, NORD presently has 36 subsidiaries worldwide.

NORD Drivesystems Pvt Ltd, the Indian subsidiary of Getriebebau NORD Germany, was incorporated in 2005. The company has a full-fledged assembly unit in Hinjewadi, Pune with production capacity of 30,000 units per year. All the parts are imported from the company’s manufacturing units globally.

“We have a strong sales, service & dealer network across the India & SAARC Countries. We cater to almost all sectors such as material handling, steel, chemical, pharma and, food and beverages, water treatment, pumps, cement,  power, solar, airport, Intralogistics & road construction,” said Muthusekkar.