TUV Rheinland to invest Rs 150 crore in India

NEW DELHI: Independent certification firm TUV Rheinland (India) has drawn up a Rs 150 crore expansion plan to enhance its presence in India in the next 2-3 years.

"We are investing Rs 150 crore to set up a couple of new laboratories and expanding capacity in the existing facility in Bangalore. Money will also be spent to set up vocational training centres," Company Director M Bhaskar said.

The company is a wholly-owned subsidiary of Germany's TUV Rheinland group and as an independent certification body, inspects, tests and certifies products, installations, processes and management systems for international standards.

Bhaskar said the company is opening a couple of testing centres in Gurgaon and Tirupur this year itself, in addition to expanding the present set up at Bangalore. It will also look at adding the number in the next 2-3 years to enhance its presence.

"The testing and certification business is at nascent stage in India. But, with the growing consumers' awareness, it is bound to go up in the coming years," he said.

India has the advantage of an increasing domestic market that throws open opportunities and challenges for inspection and certification bodies.

Bhaskar said the company also intends to buy firms in India that could complement it in the field of testing and inspection and or for vocational training centres.

"We are scouting for opportunities, but the suitability is the most pertinent issue. By the end of next year, we hope to strike a couple of acquisition deals," he said.