Wipro-GE Healthcare Invests Rs 8,000 Cr: Make in India

Wipro-GE Healthcare, a prominent player in medical technology and digital solutions, announced a game-changing investment of Rs 8,000 crore ($1 billion) in India over the next five years. This substantial infusion of capital aims to propel the company’s “Make in India for the World” initiative forward, with a multi-pronged approach:

  • Scaling Up Domestic Manufacturing: A core aspect of the investment strategy involves significantly ramping up local production of medical equipment in India. Wipro-GE Healthcare plans to increase its localization rate from the current 50% to a targeted range of 70-80%. This will not only reduce dependence on imports but also create a robust domestic supply chain for critical medical technologies.
  • Boosting R&D Capabilities: The Rs 8,000 crore investment will also be directed towards bolstering research and development (R&D) capabilities within India. This will empower Wipro-GE Healthcare to develop cutting-edge medical technologies tailored to address the specific needs of the Indian healthcare sector and the broader global market. By fostering domestic innovation, the company can create cost-effective solutions that cater to the unique challenges faced by healthcare providers in developing countries.
  • Export Focus with High-Tech Medical Equipment: The “Make in India for the World” initiative prioritizes exports of sophisticated medical equipment manufactured in India. Wipro-GE Healthcare has already begun exporting its indigenously produced “Made in India” PET-CT scanners, crucial for early cancer diagnosis. The company also plans to ramp up exports of other high-demand products like CT machines and MRI coils. This export focus has the potential to not only generate valuable foreign revenue but also position India as a key player in the global medical equipment supply chain.

Aligning with National Goals and Market Opportunities

Wipro-GE Healthcare’s strategic investment aligns perfectly with the Indian government’s push for self-reliance (Atmanirbhar Bharat) in the medical technology sector. This initiative aims to reduce dependence on foreign imports and foster domestic manufacturing capabilities for critical medical equipment. The Rs 8,000 crore investment is expected to create significant job opportunities in the Indian manufacturing sector, contribute to the development of a skilled workforce, and ultimately make India a more self-sufficient nation in terms of its healthcare needs.

Capitalizing on a Booming Market

Wipro-GE Healthcare has already demonstrated its commitment to “Make in India” through previous initiatives. In March 2022, the company established a new manufacturing facility with an investment exceeding Rs 100 crore under the government’s Production Linked Incentive (PLI) scheme. This further underscores their dedication to building a robust domestic manufacturing base.

The Indian medical equipment market is poised for phenomenal growth, projected to reach a staggering $28 billion by 2023 . Wipro-GE Healthcare’s strategic investment positions them to capitalize on this burgeoning market opportunity. By focusing on increased domestic production, cutting-edge R&D, and export-oriented manufacturing, the company can not only become a major player in fulfilling India’s domestic medical equipment needs but also emerge as a global leader in medical equipment exports.

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