Mr. Niranjan Nadkarni, CEO,TÜV SÜD South Asia, shares his views on the growth of TIC companies
The story titled, ‘TESTING TIMES, GOOD TIMES’ highlights the significant growth of TIC Companies due to the booming business sectors an as infrastructure, electronics and food processing in India. It states that testing industry is evolving and growing at over 25 per cent year on year for the past 4-5 years and has an estimated turnover between $500 million and $ 800 million. The story positions TÜV SÜD as one of the global leaders who have been present in India for a long time and is now growing at an increased pace due to the development of various sectors. TÜV SÜD has been featured alongside leading TIC Companies like SGS, Intertek, and Bureau Veritas.
The article also talks about the booming TIC market in India due to the increased awareness among consumers, environmental regulations, health concerns and a global market place. The story concludes by talking about the growth plans of the TIC companies. In lines with TÜV SÜD’s growth plans, Niranjan says that the company target is to take its annual revenue to Rs. 800 crore in the next 4-5 years.
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