The company is also strengthening its export capabilities and currently supplies medical devices to around 70 countries, with the US as its largest market, followed by Europe
Wipro GE Healthcare, a 35-year-old joint venture between GE HealthCare and Wipro Enterprises, has started rolling out its $1 billion investment plan to expand manufacturing in India and increase exports. The company aims to manufacture about 70 per cent of its products for the Indian market domestically by 2030, a significant jump from the current 40-45 per cent.
According to a Mint report, the company is also strengthening its export capabilities. It currently supplies medical devices to around 70 countries, with the US as its largest market, followed by Europe.
Scaling Up Infrastructure
As part of its expansion strategy, Wipro GE Healthcare is increasing its manufacturing capacity and technical expertise. The investment, first announced in March 2024, is now being implemented to boost engineering capabilities and establish new production facilities.
The company currently operates four plants in Karnataka and is scouting for an additional facility to further expand capacity. It manufactures high-tech medical devices such as ultrasound machines, MRI and CT scanners, anaesthesia machines, and patient monitors.
Navigating Trade and Policy Changes
The expansion comes amid shifting global trade dynamics. The US has signalled reciprocal tariffs on imports from India, while the Indian government is considering lowering import duties on medical devices—developments that could impact domestic manufacturers.
Despite these uncertainties, Wipro GE Healthcare remains optimistic, leveraging its diversified supply chain and localised sourcing strategy. “In India, there is demand because more and more people are becoming insured,” an expert told Mint.
Market Growth and Competitive Landscape
India’s medtech sector remains heavily dependent on imports, with estimates suggesting that 80-85 per cent of medical devices were imported in FY24. However, the sector is projected to grow at a compounded annual growth rate of 20-23 per cent over the next five years.
While multinational companies dominate the domestic market, emerging startups such as Healthium and HRS Navigation are primarily focussed on exports. With rising demand, the market is expected to accommodate a broader range of players.
Policy Support and Future Outlook
Government initiatives such as the National Medical Devices Policy 2023 and the production-linked incentives (PLI) scheme for medtech have strengthened local manufacturing capabilities. These policies are expected to support the industry’s growth and reinforce India’s position as a leading hub for medical device production.
