Philips to invest Rs. 300 crore, hire 1,500 people in India

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Philips to invest Rs 300 crore, hire 1,500 people in India
Philips global CEO Frans Van Houten said in a statement, "The company will invest as much as Rs 300 crore in India. It also plans to hire 1,500 people in the country,"

Health technology and consumer durables company, Philips plans to invest more than Rs.300 crore and hire 1,500 people in India over the next one or two years.

Philips global CEO Frans Van Houten said in a statement, “The company will invest as much as Rs 300 crore in India. It also plans to hire 1,500 people in the country,”

The company will expand its Pune facilities, said the CEO Frans Van Houten.

In an interview with Economic Times, Van Houten said, “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 to Economic Times, “Philips is focused on India as it believes that it is a great market to be in. Van Houten said that the company makes good use of the ‘lot of talent’ that’s there in India. The Philips CEO also believes that a lot of local manufacturing will 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 added.

Van Houten said, “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.

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. “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,” said Van Houten.

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