Wipro GE Healthcare to invest Rs 8,000 crore in India; Key things to know

Wipro GE Healthcare will invest over Rs 8,000 crore or around $960 million in India over the next five years. According to the company's statement, the investment will enhance local manufacturing and research and development (R&D) initiatives.

The move is set to bolster the company's local manufacturing capabilities and contribute to the growing domestic and international markets, the company said.

Why is this investment important?

The investment is part of Wipro GE Healthcare's commitment to the 'Make in India' initiative, aiming to position India as a global hub for medical technology (MedTech). 

"Wipro GE Healthcare has been committed to this localisation journey for over three decades, and this strategic investment is a testament to our vision for this sector," said Azo Premji, who is also the Chairman of Wipro Enterprises and the Azim Premji Foundation.

Peter J Arduini, President and CEO of GE HealthCare, also pointed out India's high potential and priority as a market for GE HealthCare globally.

"In fact, we are among the first MedTech companies to 'Make in India - for India and the World'. We will continue to invest in expanding India's domestic capabilities and its global footprint in MedTech manufacturing and R&D," he said.

"Today's announcement is aligned with our strategic vision to deliver precision innovation globally and accelerate India's position as 'MedTech innovation and manufacturing hub for India and for world markets," Arduini added.

What will be manufactured?

As part of the investment, Wipro GE Healthcare plans to manufacture and export its 'Made in India' PET CT Discovery IQ scanner to 15 countries. Additionally, other locally produced items like the Revolution Aspire CT, Revolution ACT, and MR breast coils will be manufactured 'In India for the World'. 

Notably, The investment also aims to strengthen India's position as a MedTech innovation and manufacturing hub for global markets.

How will this impact the local economy?

The investment is expected to create additional 400,000 labour hours, building upon the company's already strong local supplier ecosystem in medtech component manufacturing.

The ecosystem covers a wide range of capabilities, including plastics, EMS, machining, castings, and 3D printing, contributing significantly to supplier labour hours. The move is aligned with India's vision to be among the top five global manufacturing hubs in terms of value and technology for medical devices in the coming years.

What is Wipro GE Healthcare?

Wipro GE Healthcare, a joint venture between GE Precision Healthcare LLC, USA, and Wipro Enterprises Ltd established in 1990, currently operates four manufacturing plants in Bengaluru, all of which are export plants.

The latest plant was established in March 2022 with an investment of a little over Rs 100 crore under the Indian government's production-linked investment (PLI) Scheme.