Tata Strategic Management Group has recently unveiled a strategic report titled ‘Redefining Brand India: Value through Innovation and New Product Development - A strategic report for the Pump, Valves & Process Equipment industry' in collaboration with FICCI. The report was released in the ‘PVPE Expo 2016', the largest and unique platform for the Pumps, Valves & Process Equipment companies to showcase their capabilities.

The report highlights that developing an ecosystem that fosters innovation and new product development (NPD) is the only way Indian manufacturers can break free from the image of low cost manufacturers. It highlights the industry's perspective on the topic through a series of interactions with various industry stalwarts.

The trends emerging in the PVPE industry such as newer & complex applications in oil & gas, growing awareness among end users of minimising total cost of ownership (TCO) and end customers differentiating among suppliers on the basis of service quality and speed are driving the need for PVPE suppliers to provide innovative solutions and new products.

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