India has become a cornerstone of Philips’ global operations, with the country playing an increasingly bigger role in the company’s innovation, talent and manufacturing efforts. In an exclusive interview with BW Businessworld, Roy Jakobs, CEO at Philips, spoke on India’s strategic importance and deepening focus to the region.
“India plays a crucial role in the Philips ecosystem. It would be difficult for Philips to operate effectively without India,” said Jakobs.
This India focus has reflected in Philips’ investments in the country. In 2024 alone, the company added 1,000 new employees in India and invested Rs 700 crore across its Healthcare Innovation Centre (HIC), Pune and Philips Innovation Campus (PIC), Bengaluru.
“But it’s not just about the money; it’s also about the time and leadership we position out of here. Several global leaders manage key businesses from India, like our mobile surgery and DXR imaging businesses,” he added.
“India has become a major focus for Philips, with 12.5 per cent of our global employees now based out of here”
Philips says it is tapping into India’s unique strengths, including its talent pool, innovation capabilities, and growing economy, to drive its global growth. As per the CEO, the country’s increasing population, rising wealth, and improved education infrastructure create a conducive environment for innovation, particularly in healthcare technology.
AI And Innovation
A critical part of Philips’ strategy in India revolves around leveraging the country’s leadership in artificial intelligence (AI), particularly developments out of Philips Innovation Campus (PIC). Jakobs said AI has been seamlessly integrated into Philips’ products and services, particularly in healthcare. He shared examples of AI-driven innovations developed at the Bangalore campus, such as reducing MRI scan times by threefold and enhancing ultrasound accuracy.
“Generative AI enhances these applications, like automating administrative tasks in healthcare, which saves time for professionals,” explained Jakobs.
India’s emerging role as a global hub for AI and services expertise aligns perfectly with Philips’ strategic goals. Jakobs added on how the company is using this expertise to address the challenges faced by India’s healthcare system, such as shortages of healthcare professionals and the rising burden of chronic diseases.
“Global trends, particularly in AI technology, support India’s role as a key player in the global talent pool and economy.”
Long-Term Commitment To India
Looking ahead, the Philips CEO explained that the long-term vision for India involves expanding its portfolio of healthcare and consumer products, focusing on critical segments such as oral care, male grooming and childcare. Jakobs expressed optimism about the future. “India is emerging as a global hub for AI and services expertise, and we are leveraging these world-class capabilities,” he said.
The Dutch multinational conglomerate recently appointed Bharath Sesha as its new Managing Director for India.
(This story is part of a larger magazine story)
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