MedTech Giants Expand Manufacturing in India, Eye Global Hub Status

These strategic moves align with India's 'Make in India' initiative, leveraging the country's cost advantages, skilled workforce, and supportive policy environment to position it as a key player in the global medical technology landscape.

Multinational medical device companies, including Siemens Healthineers and Philips, are intensifying their investments in India, aiming to transform the country into a global manufacturing and innovation hub for medical technology.

Reportedly, Siemens Healthineers has committed INR 91.9 Cr to manufacture computed tomography (CT) and magnetic resonance imaging (MRI) devices at its Bengaluru facility.

This initiative is part of the Indian government's Production Linked Incentive (PLI) scheme, designed to boost domestic manufacturing in the medical device sector.

Additionally, global player Philips has also expanded its operations by starting the production of radio frequency (RF) coils, essential components for MRI systems, at its Healthcare Innovation Centre in Pune.

With an investment of INR 400 Cr under the PLI scheme, Philips aims to make India a global manufacturing base for these components. Moreover, it recently launched the AI-enabled Elevate Platform upgrade on its EPIQ Elite ultrasound imaging system in India.

The Elevate Platform integrates Artificial Intelligence tools designed to improve diagnostic efficiency and streamline operations.These strategic moves align with India's 'Make in India' initiative, leveraging the country's cost advantages, skilled workforce, and supportive policy environment to position it as a key player in the global medical technology landscape.

These strategic moves align with India's 'Make in India' initiative, leveraging the country's cost advantages, skilled workforce, and supportive policy environment to position it as a key player in the global medical technology landscape.

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