Bangalore: The continued US sanctions over sale of high-end equipment to India have created road-humps for Tektronix India's smooth growth as this segment accounts for 10 to 12 per cent of its business, a top company official indicated.

Ashok Kapoor, managing director of Tektronix India, a wholly-owned subsidiary of the US-based test, measurement and monitoring company Tektronix Inc, said most of the sanctions imposed after India's Pokhran nuclear tests had been lifted late last year but high-end equipment continue to be in banned list.

"High-end equipment accounts for 10 to 12 per cent of our business in India. Every time we want to sell high-end equipment we need to take individual validated license form the US government," Kapoor told reporters.

"We had lost 20 per cent of our business following sanctions," he said.

Tektronix India is headquartered in Bangalore with a direct presence in major cities of Mumbai, New Delhi, Chennai and Hyderabad, and it is responsible for distribution and support of Tektronix products in India, Bangladesh, Nepal and Sri Lanka through its various sales offices and reseller network.

Kapoor said the company is looking to expand and broad base its customer base, and enter small cities and towns and tap into engineering institutions and polytechnics keen to buy equipment.

Kapoor said Tektronix India clocked revenue of Rs 70 crore for the year ended May 2002 and is eyeing a top line growth of 15 to 20 per cent in the current financial year.

Tektronix India contributes 12 to 15 per cent to the parent company's Asia Pacific revenue depending on year-to-year, he said.

The company, it was noted, caters to the segments of telecom, broadcasting and post- production and defence research labs, Research and Development institutions and universities.

According to him, the size of the test and measurement market in India is estimated to be around Rs 300 crore, including the life sciences segment. The industry has been growing at the rate of around 10 per cent over the years but Tektronix's growth has been faster, Kapoor said.

PTI