Thermax Ltd., an Indian power- equipment maker that has a marketing deal with General Electric Co., expects air and water treatment machinery sales to triple by 2016 as Asia’s second-biggest polluter curbs emissions.
“Industrialization in India will be the growth driver,” M.S. Unnikrishnan, chief executive officer and managing director, said in an interview at Thermax’s headquarters in Pune, near Mumbai. The air pollution control and water treatment businesses may increase to a combined 20 billion rupees ($420 million) in five to seven years, he said.
Thermax has forged alliances with GE’s water-treatment division and other overseas partners in a bid to capture a growing market for greener industry in India. The South Asian nation is coping with environmental degradation caused by economic growth and a growing population of 1.2 billion people.
Technology from GE Water may help Thermax capture as much as half of the 15 billion rupees in government tenders for municipal sewage treatment projects nationwide.