Wipro GE Healthcare invests $1 billion in India expansion

Wipro GE Healthcare has launched a $1 billion expansion plan to increase its manufacturing in India. The company aims to produce about 70% of its products for the Indian market locally by 2030, up from the current 40-45%. The joint venture between GE HealthCare and Wipro Enterprises believes it can avoid the impact of US tariffs on India's medtech industry. Wipro GE Healthcare exports medical devices to 70 countries, with the US being the largest market. Chaitanya Sarawate, managing director of Wipro GE Healthcare, shared that the company plans to scale up exports and meet growing demand from other countries. The Indian government is considering reducing import duties on medical devices, which has raised concerns among local manufacturers. However, Wipro GE Healthcare feels insulated from these changes due to its diverse supply chains. The company’s investments will focus on expanding manufacturing capacity, technical expertise, and research and development. Wipro GE Healthcare currently has four plants in Karnataka and is looking for additional facilities to boost its production capabilities. India's reliance on imported medical devices is significant, with 80-85% of these devices being brought in from abroad last year. Wipro GE Healthcare, as a leader in the medtech sector, aims to change this by reducing import dependence. The medtech market in India is expected to grow by 20-23% annually for the next five years, supported by rising healthcare demand and government policies promoting domestic production. Sarawate believes the market can support various players as it expands.