MedTech multinationals bet big on India, eyeing global hub status
Several multinational medical device makers are focusing on deepening their presence in India by expanding their local manufacturing footprint and research capabilities, a move that can catapult India into a strategic hub for the medical technology industry.
Among those increasing their reach in the country are Siemens Healthineers and Philips, 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 (PLI) scheme for medical devices, is investing ₹91.9 crore to locally manufacture computed tomography (CT) and magnetic resonance.
