[2] After seeing great success in the LP's business in Western India, the Taurani brothers first established Tips Cassettes & Records Co as a partnership firm in 1988.

The firm's main interest lied in manufacture and trade of audio and video cassettes.

In 1996, the firm was converted into a joint stock company and renamed Tips Industries Private Limited.

The second facility for manufacturing blank and pre recorded audio cassettes was opened in 1997 in the city of Silvassa.

Tips Industries has further ventured into south Indian and international music markets Today, it also handles film production.