Bengaluru, Oct 6 (PTI) TUVRheinland India, a subsidiary of TUVRheinland Group of Germany, today said that the company is expected to invest 30 million Euros in India in the next 10 years.

"TUVRheinland has invested about 20 to 25 million Euros in India till now...Currently we invest an average of 2.5 to 3 million Euros a year, so if we talk about next 10 years minimum 30 million Euro, that's my expectation," TUVRheinland India Managing Director Thomas Fuhrmann told PTI. Headquartered in the city, TUVRheinland India has been in the country since 1996 and is active in more than 100 locations as a prominent service provider in the testing, training, inspection, consulting and certification industry (TIC), employing about 1,000 people.

Fuhrmann said all the new initiatives by the Indian government like Make in India, Skill India and Clean India were directly influencing the company's business.

"We are happy that we could grow over the last three years by 20 to 30 per cent that is because of increase in demand and there is direct connection to Make in India as more and more companies invest into facilities where people want to build up infrastructure, to produce goods not only developing goods", he said.

"We are always the indicator of the industry, if we grow the industry grows. If the industry is shrinking it will impact us directly," he said.

The company today announced the expansion of its footprint in India with a new 2.5 million Euro facility located at Electronic City here.

Claiming that new purpose-built 14,000 sq mt facility makes it the first international TIC organisation operating in the country to house all of its state-of-the-art laboratories under a single roof, the company said this approach offers customers a complete solution that will reduce turnaround time and accelerate time-to-market. The laboratories include the photovoltaic lab, material testing lab, electrical safety lab, medical lab, battery testing lab and the softlines testing lab, along with the wireless IoT testing laboratory, which conducts radiated and conducted signal measurements as well as wireless alliance certification.

The new facility will have 300 people, 60 per cent of them engineers. Stating that the company has totally six labs in the country, TUVRheinland President and CEO Michael Fubi said, "we see a huge potential to grow in India and the country is opening some markets for us to provide testing services for local demand."

Providing testing, training, inspection, consultancy and certification services to the industry through its Industrial Services, Mobility, Products, Softlines, Academy and Life Care and Systems divisions, TUVRheinland India offers more than 2,500 services, catering to almost every industry. Fuhrmann said with their target to grow by 30 per cent, the company targetted 20 per cent man power growth in India for the next year.

Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI