An “incredible innovation market” is how John Flannery, president and Chief Executive Officer of GE Healthcare sees India, as the company takes its locally made affordable products beyond emerging markets into developed markets as well.
In a discussion with the newspaper BusinessLine, Flannery explained that the Sustainable Healthcare Solutions business, that the company started in India last year, was the fastest growing segment in GE Healthcare’s overall business, and was poised for greater growth in other markets, such as the U.S., as well.
Initially tailored for the India market involving different technologies and different price points, GE has invested $120 million in product development. Currently there are about 28 such products in the market.
“We’ve got another 14 products in the development cycle … so, we have around 50 products globally that we have engineered and designed and developed in India. Those are selling well in India, (and) selling quite well globally as well,” Flannery added.
