Philips global CEO Frans Van Houten has announced that the consumer durables giant would invest about Rs 300 crore in India. It also intends to employ 1,500 people in the country. Furthermore, the company is also planning to expand its Pune facilities.
In a statement, Frans Van Houten says, “I would mention the importance of our Innovation Centre in Bengaluru, where most of our software resources reside. We are also expanding our Global Business Services Hub in Chennai, so overall employment for Philips in India is strong. We have a current plan to expand employment by at least 1,500 people.”
He said that Philips is focused on India as it believes that it is a great market to be in. Van Houten states that the organization makes good use of the ‘lot of talent’ that’s there in India. The Philips CEO also believes that a lot of local manufacturing would come to the country.
“We will see more local manufacturing coming to India because the market is important and there is a good workforce,” he further adds that they are expanding their Pune facility and are planning to improve their manufacturing there.
Van Houten said that the pandemic has seen an upheaval in terms of their production. In the first quarter last year, they increased production of critical care equipment such as ventilators and monitors. “On one hand, we saw critical and acute care rise rapidly, on the other, we saw the more conventional business for elective procedures go down,” he said, adding that this year is opposite as regular care has come back.
He added that affordability of healthcare in India is an issue despite several schemes. Van Houten further adds, “Access to care is something that has to be developed further. Also, getting in infrastructure that can cater for diseases at this kind of scale remains a challenge.”