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Pumpset Prices to Rise Up to 10% from April Due to Raw Material Cost Surge, Says SIEMA

SimpliCity News Team · 23 Mar 2026

Coimbatore: The South India Engineering Manufacturers Association (SIEMA) has announced that pumpset prices will be increased by 7.5% to 10% starting from April 2025, citing persistent escalation in raw material costs that continue to pressure the manufacturing sector.

This marks the second price revision within a short span, following a 10% increase implemented in October 2025, as the industry grapples with unresolved raw material pricing challenges.

SIEMA President Mithun Ramadas explained that while global instability stemming from the Iran-Israel conflict has affected various countries, India has largely remained insulated from major disruptions. He credited Prime Minister Narendra Modi's proactive measures for maintaining stability and supporting the industrial sector during these challenging times.

However, the rising cost of raw materials continues to be a critical concern for manufacturers. Copper, a key component in pumpset manufacturing, has witnessed a dramatic 50% price increase over the past year, surging from Rs 850 per kilogram to Rs 1,200 per kilogram. Similarly, prices of other essential raw materials including steel and aluminum have been on an upward trajectory.

"The crisis situation facing the industry necessitated the 10% price increase in October 2025. Since the problem persists without resolution, we are compelled to implement another price revision ranging from 7.5% to 10% from April onwards," Mithun Ramadas stated.

The SIEMA President urged the Central Government to take decisive action considering the growth trajectory of the pumpset manufacturing industry. He specifically called for measures to address the raw material price escalation problem and requested a reduction in GST rates from the current 12% to 5%, which would provide much-needed relief to both manufacturers and consumers.

The pumpset industry plays a vital role in India's agricultural sector, and these price increases are expected to impact farmers and agricultural operations across the country. Industry stakeholders hope for government intervention to stabilize raw material costs and ease the burden on the manufacturing sector.

pumpset price increase SIEMA raw material costs copper prices manufacturing GST agriculture Mithun Ramadas industry

Pumpset Prices to Rise Up to 10% from April Due to Raw Material Cost Surge, Says SIEMA

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