“Three major shifts are reshaping India’s healthcare”

Philips India's Bharath Sesha on how the company's growth trajectory in India includes both organic and inorganic expansion routes

- NEETU CHANDRA SHARMA

Philips India generated around ₹6,000 crore revenue in FY24, according to the Philips annual report, with its healthcare business—including diagnostics, hospital equipment, and innovation services—accounting for the bulk of this. Philips India also contributes over 12% to Royal Philips' global workforce. In an interview with Business Today, Bharath Sesha, Managing Director for the Indian subcontinent, talks about how the India arm is collaborating with the government on digital health IDs and electronic health records to track a patient's history and offer personalised care. Edited excerpts:

Q: What kind of capital investments is Philips planning for the Indian market, and which product categories are driving growth at present?

A: While it is slightly premature to share precise capital expenditure figures, I can outline what has been committed till now. We inaugurated our innovation campus in Bengaluru in November 2023, which focuses on artificial intelligence (AI)-driven healthcare solutions. In addition, we commenced construction of a new Healthcare Innovation Centre in Pune last year. It is expected to be operational by next year. These investments total approximately ₹700-800 crore and will have around 2,000 professionals dedicated to innovation.

These initiatives in India span research and development, manufacturing, and sourcing. For instance, our global manufacturing site in Pune produces medical equipment for over 100 countries. It is currently the only location within Philips' global network manufacturing these specific products.

Looking ahead, we aim to strengthen this ecosystem. While additional allocations are yet to be finalised, sustained investment in research, development, and innovation remains a key priority.