Since our origin in 1956, we have stayed on a purposeful course as a leading pump manufacturer because of our commitment to core values. There are many contributing factors to these values and one of them is the fact that we are a family-owned business entity. The founder of our company, Mr.R.Ramaswamy, ‘left’ the family only to study electrical engineering at Sheffield University in 1937. And when he came back to India, he set the company on a path paved with compassion and values.

These values centre around the fact that Taro Pumps is not just a product or a brand but a means of sustaining a farmer’s life, family, and future. That's one of the reasons why we also have a mission called ‘Taro for Life’. Our pumps make the farmer’s life easier, and better. And this is the impetus for their families to do better too.

Families work!
India is a dynamic country in so many ways! On the one hand we have entrepreneurs doing phenomenal work in all sectors, and industries. And on the other hand, we have long-standing, illustrious families who have been powering businesses for generations. And most of these family-run businesses have stayed the course because of:

• Embracing new-age technology

• A belief in the power of innovation

• The ability to change with the times

• New generations bringing in new learning and skills

• Investments in R & D and so on.

Yes, family-owned businesses approach innovation very differently but the result is growth, expansion of product portfolios, and new ways of doing good business.

The Focus
For a family-run business like ours, the focus of all projects, and plans is resilience. We want to stay the course and sustain the business for our employees, and by extension, their families for an exceptionally long time. So, one aspect we always strive to keep in mind is putting people before profits.

Our workplace stays professional, but our guiding compass incorporates the best of ‘family values’. And if one hand we have time-tested management techniques such as Kaizen, Lean Management, Poka Yoke and Continuous Improvement guiding our processes, on the other hand, we have empathy, a culture of respect, inclusivity, and compassion driving us forward too.

The Future
It is significant to note that 90% of the global businesses are family businesses. And family businesses contribute to 79% of India’s GDP. It makes sense that India’s growth depends on the growth of its family businesses too. As of now, India ranks third in the world when it comes to the number of family-run businesses. A study conducted by S. P. Jain Institute of Management and Research (SPJIMR) Centre for Family Business and Entrepreneurship (CFBE) revealed that a majority of businesses reported improved or stable performance across key metrics such as sales, market share, and profitability.

A company that has its eye on the future will plan its growth strategy according to the age of swift digitalisation, and Industry 4.0 trends. And perhaps one unique combination will help traditional companies stay the course is a legacy or endurance power that has been improved by time combined with adaptability.