TUV Rheinland earmarks €30-m investment in India

(From left) Andreas Hofer, CEO and President, IEMA and Asia Pacific, TUV Rheinland; Michael Fubi, CEO, TUV Rheinland Group, and Thomas Fuhrmann, MD, TUV Rheinland India

Having achieved high double-digit revenue growth rates in India over the last few years, TUV Rheinland India, a subsidiary of the €1.9-billion TUV Rheinland Group, Germany, has earmarked an investment of over €30 million in the Indian market over the next few years, a top executive told BusinessLine.

The company, a major player in testing, training, inspection, consulting and certification, has been growing its India headcount by 20 per cent year-on-year and currently has 1,000 employees across 100 locations in the country, with 1.75 lakh sq ft of laboratory facilities in Bengaluru, Gurugram, Tirupur and Visakhapatnam.

Housing of labs

On Friday, the company expanded its India footprint with a purpose-built, 1.5 lakh-sq-ft facility in Bengaluru at an investment of €2.5 million that houses all of its laboratories under one roof, including the photovoltaic lab, material testing lab, electrical safety lab, medical lab, battery testing lab, softlines (toys, shoes, textiles etc) testing and IoT testing lab.

“India is slated to become our number one market in the IMEA (India, Middle East & Africa) region by December/January, as it has the potential to outperform other countries in the region,” said Michael Fubi, President & CEO, TUV Rheinland AG.

Rising demand

“With rising demand for our services through our Industrial Services, Mobility, Products, Softlines, Life Care & Academy and Systems Certifications divisions, we have witnessed a 25 per cent increase in India revenue in 2016 and are on track to achieve 30 per cent growth this year. Our new facility in Bengaluru offers customers a complete solution that will reduce turnaround time and accelerate time to market,” he said.

Although the company entered India in 1996, real investments began in 2010, beginning with a photovoltaic lab, EMC lab, textile lab and expansion of its product safety activities.

“When we began operations, we focused mainly on systems certifications, testing of electrical products, quality, occupational health, environment and so on, which is not such a capital intensive business but more a people business. During that time, we understood the opportunities in the India market and in 2010 made a change in our investment strategy. We have invested €20 million in India over the last seven years,” said Andreas Hofer, CEO and President, IMEA (India, Middle East,Africa) & Asia Pacific. TUV Rheinland India performs all necessary tests in compliance with REACH, RoHS and other European regulations.

Product safety and quality

“Our 2,500- plus services have created a lot of demand in India, where the market is constantly looking for safer products. Quality is another key element that consumers consider when looking for value-for-money when it comes to products or services,” said Thomas Fuhrmann, Managing Director, TUV

[“Source-timesofindia”]