GE Healthcare Technologies on Monday said it is confident of doubling its annual revenues to $800 million in less than three years from its operations based out of Bangalore, a top company executive said on Tuesday.
GE Healthcare, a $15 billion segment of General Electric company, will continue to invest aggressively in India, where it's logging double digit growth, a top company official said on Friday.
Price becomes a challenge in a country like India and, hence, we are trying to halve the cost and give higher outcome, says V Raja, CEO, GE Healthcare India.
Like so many other MNCs, it is targeting emerging markets, of which India represents a major chunk, as a critical growth area. But India is also rapidly becoming a key geography where some of the innovative products to address the market at the bottom of the pyramid are being developed.
GE Healthcare has already filed five global patents for its design.
GE Healthcare, a unit of General Electric Company, is eyeing $1-billion sales in the South Asian market over the next five-years, a top company official said.
Several multinational medical device makers are focusing on deepening their presence in India by expanding their local manufacturing footprint and research capabilities, a move that can catapult India into a strategic hub for the medical technology (medtech) industry. Among those increasing their reach in the country are Siemens Healthineers and Philips, signalling a broader shift from India being only a sales destination to becoming a global production and innovation base.
Siemens Healthineers, one of the largest manufacturers of made-in-India CT scanners, has sold 80-100 such machines in the last 45 days. The medical technology firm typically sells 250 machines in a year.
From upgraded portable ECG machines to digital X-ray units, the research lab does them all.
The CT scanner captures the images of the heart and coronary arteries in as few as five heartbeats.
Some of external candidates being considered for the post of CEO include Bhaskar Ghosh of Accenture, Ritesh Idnani of Tech Mahindra, Ravi Kumar S of Infosys, and Nitin Rakesh of Mphasis, among others.
Wipro said on Thursday that Azim Premji's son Rishad, chief strategy officer and member of the board, will take over as the executive chairman. Azim Premji, however, will continue to serve on the board as non-executive director and founder chairman.
India is the perfect place to innovate because locals are aware of what's needed and have the intellectual capacity and engineering excellence to create and think outside of the box.
Over lunch with Jyoti Mukul, Banmali Agrawala, president and CEO, GE South Asia, discusses how GE is transforming itself into a digital industrial company.
'Let me talk about young Indian startups with their hearts in the right place and how they are proving that innovations that represent 'affordable excellence' -- breaking the myth that 'affordability' and 'excellence' cannot go together -- is indeed possible!' says Dr R A Mashelkar, the eminent scientist, in this fascinating feature.
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