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Wipro GE Healthcare on 26th March, 2024, said it
will invest over Rs 8,000 crore in India over the next five years to increase
local manufacturing and research and development (R&D).
The company, a leading global medical technology,
pharmaceutical diagnostics, and digital solutions provider, said as a part of
the investment, its 'Made in India' PET CT Discovery IQ scanner will be
exported to 15 countries.
Additionally, locally produced Revolution Aspire CT,
Revolution ACT and MR breast coils will be manufactured 'In India for the
World', the company said in a statement.
The strategic investment bolsters the company's local
manufacturing footprint to address the growing domestic and international
market. It will also build supply chain resiliency for the organisation, it
added.
Wipro GE Healthcare, Chairman, Azim Premji said “India is
riding the resurgent growth in the healthcare industry and rapidly expanding
MedTech sector.”
"With 'Make in India', we are witnessing an exponential
expansion of manufacturing footprint in the country, strengthening India's
capability as the MedTech hub of the world.
"Wipro GE Healthcare has been committed to this
localisation journey for over three decades and this strategic investment is
testament to our vision for this sector," added Premji, who is also the
Chairman of Wipro Enterprises and the Azim Premji Foundation.
GE HealthCare, President and CEO, Peter J Arduini said “India
is a high potential, high priority market for GE HealthCare globally. In fact,
we are among the first MedTech companies to 'Make in India - for India and the
World'. We will continue to invest in expanding India's domestic capabilities
and its global footprint in MedTech manufacturing and R&D," he said.
Further, Arduini said, "Today's announcement is aligned
with our strategic vision to deliver precision innovation globally and
accelerate India's position as 'MedTech innovation and manufacturing hub for
India and for world markets." Wipro GE Healthcare Managing Director and
President & CEO, GE HealthCare, South Asia, Chaitanya Sarawate said,
"As a local partner we are bullish about India's potential and its journey
to be 'Atmanirbhar' and a key cog in the resilient global supply chain.
"As India envisions to be among top five global
manufacturing hubs in terms of value and technology for medical devices in the
coming years, we are committed to the national healthcare agenda." At
present, Wipro GE Healthcare has four manufacturing plants in Bengaluru.
All these plants are export plants and the latest one was
established in March 2022, with an investment of a little over Rs 100 crore,
under the Indian government's production-linked investment (PLI) Scheme, the
company said.
Wipro GE Healthcare is a joint venture between GE Precision
Healthcare LLC, USA, and Wipro Enterprises Ltd established in 1990. Its
operations spread across India, Bangladesh, Sri Lanka, Nepal, Maldives, and
Bhutan.
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INDUSTRIAL PRODUCTS FINDER (IPF) is India’s only industrial product portal. Referred to as the ‘Bible’ of the manufacturing sector in India,
INDUSTRIAL PRODUCTS FINDER (IPF) is India’s only industrial product portal. Referred to as the ‘Bible’ of the manufacturing sector in India,
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