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."India is a very important market not because of the domestic market which we have, but also the role which India could play for the world for Signify is becoming far more important," Joshi told PTI. 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".