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GE Healthcare sees to double revenues from the Indian market

GE Healthcare, the medical equipment major, is aiming to more than double its revenues from the Indian market in five years. V Raja, president and CEO, GE Healthcare India, said the company wants to reach over $1 billion in revenues from India by 2015 from $400 million now. GE Healthcare is currently growing at a compounded annual growth rate of 30 percent. The company is planning to reach its goal by developing and selling products customised to suit the requirements in different towns. Healthcare experts say customising products to suit different pockets is the need of the hour for medical equipment manufacturers who intend to grow quickly in the $40 billion healthcare market in India. GE covers about 250-300 districts in India directly and indirectly through its distributors, and is looking at tapping the remaining 100-150 districts. To grow its bandwidth, the company plans to scout new emerging technologies developed by engineers and scientists who find it hard to bring them to the market on their own. Raja said GE would either nurture good technologies which have a strategic fit with their line of business and bring them to the market, or buy them out outright, or provide the scientists with support and partnership to scale up the technologies.

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