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TÜV SÜD, a Germany-based safety and sustainability solutions provider, has invested 15 million euros (about Rs 134.8 crore) in its newly-built laboratory and testing facility in Bengaluru, driven by its expansion plans in India and a push towards the government’s ‘Make-in-India’ initiative.
This is the company’s second lab facility in Bengaluru, after its Food Analytical, Chemical & Microbiology laboratory, inaugurated in 2005, in Peenya Industrial Estate. It has an existing network of over 39 offices and testing facilities at Bengaluru, Gurugram, Mumbai, Tiruppur, and Visakhapatnam.
TÜV SÜD has 2,500 employees in India out of its total global headcount of over 30,000 employees. In India alone, the company recorded revenues of Rs 500 crore this year.
TÜV SÜD’s new facility spans over 3 acres and comprises 70,000 square feet in the first phase, which is expected to seat about 200 staff. “It is designed by and utilises the latest technology and building materials to be energy efficient, and sustainable and has incorporated workspace design to enhance employee collaboration and wellbeing,” the company said in a statement.
“India is one of the fastest-growing economies, a market with a large, empowered middle-class population driving domestic consumption and a preferred outsourcing destination. This state-of-the-art facility and our future investments will further strengthen our role as a key enabler to assist manufacturers to serve the world and the country with products embedded with quality, safety, security, and sustainability,” said Ishan Palit, chief operating officer and member of the board, TÜV SÜD.
The German company believes that the recent project will further support and strengthen the partnership with stakeholders in innovation and commercialisation with quality, safety, and sustainability in product design, development, and production. The company also targets to enable faster access to domestic and international markets.
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TÜV SÜD said the recent investment in India is a step towards the expansion of the company’s footprint in electrical safety, electromagnetic compatibility, and medical device biocompatibility, toxicity and microbiology testing and certification services.
“The new facility is designed for growth in electrical components and medical devices. We expect to grow between 14-15 per cent CAGR by the end of the calendar year 2024. I see tremendous potential in India for medical devices, which is going to have a big impact in terms of new investments as it is a high-end industry. I see us supporting this very strongly,” said Palit.
