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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.

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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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