Signify aims double-digit growth from Indian business in 2024: CEO
Signify, formerly known as Philips Lighting, is targeting double-digit growth from its India business in 2024, a top company official has said.
The company, which overall leads the Indian lighting market, also has plans to increase exports from India to other markets, playing a bigger role, Signify CEO and MD Sumit Joshi said.
On the domestic market, in which Signify operates in the consumer segment (B2C) and the professional lighting solutions (B2B) vertical, he said the company has been able to “extend its leadership”.
When asked about the growth, Joshi said: “I think we will continue to do on the consumer part of the business on volume we will continue to grow. In the first half, we are growing in high single digits, hopefully after the budget during the festivals, the numbers will go up”.
While on the professional side of the business, the growth is going to be much more than the consumer business.This is because of the development of new infrastructure like roads, airports, and metro rail projects, among others.
