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MedTech multinationals bet big on India, eyeing global hub status
Global medtech giants like Siemens and Philips are expanding R&D and manufacturing in India, leveraging policy support and talent to embed India in global value chains
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Anjali Singh Sanket Koul Mumbai/New Delhi
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Several multinational medical devices makers are focusing on deepening their presence in India by expanding their local manufacturing footprint as well as research capabilities — a move that could catapult India into a strategic hub for the global medical technology industry.
Companies such as Siemens Healthineers and Philips are expanding their footprint in India, signalling a broader shift from India being only a sales destination to becoming a global production and innovation base.
Siemens Healthineers, one of the approved applicants under the Indian government's Production Linked Incentive
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