GE India to expand medical device manufacturing production
General Electric's healthcare division would start shipping low cost medical devices manufactured in India to markets worldwide. This was confirmed by a senior executive of the company today.
Three manufacturing hubs located in Bangalore would begin production on an extended line of products, such as ultrasound equipment, ECG units as well as other maternal and infant care machinery. The equipment would be exported to Africa, Europe, Asia and Latin American markets. Also, these India made units would be 40% cheaper compares to the competition and is expected to corner about 15% of total market.
According to GE President and CEO for Global Ultrasond Anders Wold, "India offers the ideal template to custom make products for other emerging markets globally." The world market for medical and diagnostic devices is estimated to be worth USD362 billion by 2015, according to reearch conducted by Global Industry Analysts.
The spokesman for GE Healthcare India confirmed the initial statement, saying "India has the right minds to produce low-cost gadgets, highly qualified doctors for advice, an ideal market that has a demand for these products and the capability to manufacture these products here. China on the other hand has cost-advantage in manufacturing products there."