GE Healthcare, Philips & Panacea Engage with Noida Medical Device Park to Scale Indian Manufacturing

YEIDA said the 350-acre park near Jewar airport has completed 90 percent of its infrastructure work and allotted 101 plots worth over ₹1,291 cr, positioning it as a major hub for domestic medtech manufacturing.

Global Medtech player GE Healthcare, along with Philips and Indian manufacturer Panacea Medical Technologies, has expressed intent to set up manufacturing units at the Medical Device Park (MDP) in Sector 28, Noida.

The park spans 350 acres near Noida International Airport (Jewar) and is being developed by the Yamuna Expressway Industrial Development Authority (YEIDA), with infrastructure work 90 percent complete and 101 plots already allotted.

During a two-day outreach visit to Bengaluru, senior officials from YEIDA met with representatives of the three companies. At GE Healthcare’s X-ray tube facility, discussions included potential collaborations in imaging, diagnostics, and electronics assembly.

Philips received an investment briefing, and Panacea showcased its export-oriented manufacturing campus that meets the government’s production-linked incentive (PLI) scheme requirements.

The medical device park offers significant incentives, including subsidized land rates, stamp-duty exemptions, capital interest subsidies, and direct connectivity to Jewar airport. The park also features six common scientific facilities (CSF-1 to CSF-6) for testing, prototyping, and sterilization services, with five of them reported to be 95 percent complete.

With domestic medtech import dependence still high, India is aiming to build manufacturing resilience. The Noida Park is designated under a central scheme with a project cost of ₹440 cr, and with current plot commitments exceeding ₹1,291 cr, it is positioned as a key hub for high-value device production.

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