NewZNew (Chandigarh) : The Central Government has liberalized & allowed 100 per cent FDI in sectors like civil-aviation, single brand-retail, defense and pharma. The criterion that has been followed is that in all such sectors where a ministerial permission or license from another governmental authority is required, FDI can be placed on the automatic route. K S Bhatia, Founder & CEO of Chandigarh based pumpkart.com whose business model of selling water pumps online was recently praised by Google CEO Mr. Sundar Pichai, has reacted to the Modi government’s policy decision to allow FDI in different sectors. According to the CEO of pumpkart.com — India’s largest online water pump company, the government should think something about the water industry as well. As many experts believe that India will face problems of drinking water in the coming days.
K S Bhatia said, “There should be 100% FDI in the water Industry. Water conservation, rain water harvesting etc need foreign technologies in the country. We need latest and energy efficient water pumps and especially solar pumping for both domestic & industrial sectors.” Added Bhatia, “Being a member of Confederation of Indian Industry(CII), I will be taking up the issue of FDI in water industry with CII too.”
Bhatia feels that the government should look into this particular segment too, so that funds can be raised from the foreign players because when it comes to water harvesting, putting up water treatment plants etc, India is still far behind the developed world.
It is noteworthy that being in that industry the company is concerned about water conservation & as part of its CSR initiative; it is also running a facebook campaign titled ‘Save Water Save Country’.