Wipro GE Healthcare Announces ₹8,000 Crore Investment Boost for Medical Technology Growth in India

Wipro GE Healthcare, a leading provider of medical technology and digital healthcare solutions, unveiled a significant investment plan on Tuesday. The company intends to invest over ₹8,000 crore across manufacturing output and research and development (R&D) initiatives in India over the next five years.

Global Ambition with Local Focus

Azim Premji, chairman of both Wipro GE Healthcare and Wipro Enterprises, emphasized the impact of this investment: “We aspire to serve 3 billion people across the world with the investments which we are making.”

Manufacturing for Global Markets

This strategic investment plan holds exciting prospects for both domestic and international markets. As part of the initiative, the Wipro-GE joint venture will manufacture PET CT (positron emission tomography and computed tomography) diagnostic scan machines for export to 15 countries and locally produce advanced medical equipment including Revolution Aspire CT, Revolution ACT, and MR breast coils, specifically designed to cater to international markets.

Employment Opportunities and Workforce Expansion

The company projects that this investment will generate an additional 400,000 labor hours. As part of this investment strategy, Wipro GE Healthcare is probably going to hire more people, according to an insider with knowledge of the plans. However, specific details regarding hiring targets and timeframes were not disclosed.

India: A Strategic Hub for Medical Technology

“India is a high potential, high need market for GE Medical care internationally,” highlighted Peter J Arduini, president and Chief of GE Medical services. He further featured how this declaration lines up with their vision “to convey accuracy development universally and speed up India’s situation as a medtech development and assembling center for India and for world business sectors.”

Building on a Strong Foundation

This investment signifies a continuation of Wipro GE Healthcare’s commitment to India’s medical technology sector. Earlier in 2024, GE HealthCare signed a memorandum of understanding with the Indian Institute of Science in Bengaluru to foster advancements in medical technology innovation that benefits both India and the global community.

A Legacy of Innovation

Since its formation as a joint venture with Wipro Enterprises in 1990, GE HealthCare has established a robust presence in India, encompassing manufacturing, design, and distribution activities across India and neighboring South Asian countries. Notably, 40% of GE HealthCare’s overall sales originate from India, placing the country among its top five global markets. Furthermore, the company’s Indian arm has filed over 1,100 patents to date.

Looking Ahead: Doubling the Design Workforce

Wipro GE Healthcare’s managing director, Chaitanya Sarawate, has previously communicated plans to double their current design workforce of 1,800 within the next decade. This ambitious goal underscores the company’s commitment to propelling India’s position as a global leader in medical technology innovation.