GE HealthCare President and CEO Peter J. Arduini, on Tuesday (March 26) said the company has identified India as a pivotal growth market, predicting it to be one of the company's top three global opportunities in the coming years.
Speaking exclusively to CNBC-TV18's Shereen Bhan, Arduini said, "I think it's going to be one of our top three biggest opportunities really around the globe to continue to expand (in)."
Arduini elaborated on his focus on India, stating, "It will merit more and more of my time and focus not only on how we can actually make in India for the world, but the Indian market and its growth potential and what it can mean to a company like GE HealthCare."
This comes after Wipro GE Healthcare announced an investment of over ₹8,000 crore in manufacturing output and local research and development over the next five years.
“As a part of this investment, the Wipro GE Healthcare Made in India PET CT Discovery IQ will be exported to 15 countries. Additionally, the Revolution Aspire CT, Revolution ACT and MR breast coils will be manufactured in India for the world,” the company said in a press release.
Wipro GE Healthcare said it was one of the first medtech companies to transition to ‘Make in India — for India and the world’ over the past three decades, investing upwards of over $4 billion in R&D and manufacturing output in India since its inception.
Currently, Wipro GE Healthcare operates four manufacturing plants in Bengaluru, all of which are export-oriented, the company said. The latest plant was established in March, 2022, with a little over ₹100 crore worth of investment under the government's production-linked incentive (PLI) scheme.
Wipro GE Healthcare was founded in 1990 as a joint venture between GE Precision Healthcare LLC, USA, and Wipro Enterprises Ltd. Its operations span India, Bangladesh, Sri Lanka, Nepal, the Maldives, and Bhutan.
