
GE Healthcare doubles India investment
pharmafile | September 21, 2016 | News story | Manufacturing and Production, Research and Development, Sales and Marketing | GE Healthcare, India
UK firm GE Healthcare is set to double its investment in India as it aims for revenues of £750 million this year, according to CEO John Flannery.
“India influences a lot about how I think about the global business,” Flannery said. “I observed a lot of things about healthcare…a lot of things that were different in India. I thought those things would happen in the US and European markets.”
“India is one of the highest growth businesses we have anywhere in the world. It has strong double-digit growth. So, it adds a lot of features to our global business,” he added.
Flannery served as CEO for GE India from October 2009 to April 2013 and cites this tenure as influential on his current plans for the $18 billion company, despite his admission that the Chinese market was a bigger goldmine due to legacy investment in the region.
“We are investing in manufacturing, localisation. Two or three years ago, 7% of our revenue was from India, now it is 20%, so we are aiming for 50-50 (versus China).”
The company is aiming for revenues of over $1 billion by 2020 in the wake of the move.
Matt Fellows
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