Wipro-GE Healthcare: Rs 8,000 Cr Investment for Make in India

In a significant boost to India’s ambitions of becoming a MedTech leader, Wipro-GE Healthcare, a key player with a current revenue of Rs 7,135 crore, announced a staggering Rs 8,000 crore investment plan to be spread over the next five years. This strategic move strengthens the company’s commitment to the ‘Make in India for the World’ initiative, with a focus on amplifying local manufacturing capabilities (estimated to increase by 25%) and bolstering research & development (R&D).

Gearing Up for Global Medical Device Exports

The influx of capital will be primarily directed towards augmenting the production of medical equipment within India. This translates to a significant ramp-up in the manufacturing of their indigenously-developed PET CT Discovery IQ scanner, envisioned for export to a network of 15 countries. The company also plans to manufacture other high-end products like Revolution Aspire CT, Revolution ACT, and MR breast coils domestically, catering to the burgeoning global demand for such equipment. Industry estimates suggest this could lead to an increase in medical device exports by up to 30%.

This strategic shift towards localization aligns seamlessly with the Indian government’s ‘Make in India for the World’ vision, which aspires to establish India as a global leader in manufacturing and exports. Wipro-GE Healthcare’s already established network of local suppliers specializing in MedTech components, which currently contributes significantly to supplier labor hours, will play a pivotal role in achieving these ambitious goals.

Fueling Innovation Through R&D Investments

The Rs 8,000 crore investment will not only bolster manufacturing capabilities but also act as a catalyst for advancements in R&D. This is likely to lead to the development of cutting-edge medical technologies within India, further solidifying the country’s position as a significant player in the global MedTech landscape, which is estimated to reach a value of USD 800 billion by 2030.

Industry Expert Weighs In:

Wipro-GE Healthcare’s investment is a game-changer for the Indian MedTech sector. This strategic move will not only create an estimated 400,000 additional labor hours but also position India as a major hub for medical device innovation and production, contributing significantly to the global supply chain.

A Gateway to a Brighter Future for Indian MedTech

Wipro-GE Healthcare’s investment marks a significant stride towards realizing India’s aspirations of becoming a global leader in MedTech. By fortifying local manufacturing (by 25%) and R&D prowess, the company is well-positioned to not only cater to the domestic market’s needs (which is expected to grow significantly due to a rising population and increasing healthcare awareness) but also emerge as a major exporter of medical equipment (by 30%), solidifying India’s position on the global MedTech map. This strategic move has the potential to create not only a plethora of job opportunities (estimated at 400,000 additional labor hours) but also position India as a key player in the ever-evolving global MedTech market, which is poised to reach a value of USD 800 billion by 2030.

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