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Wipro GE Healthcare, a joint venture of India's Wipro Enterprises and a wholly owned entity of U.S.-based GE Healthcare, said it would invest 80 billion rupees ($960 million) in the country in its manufacturing and research and development facilities. Bengaluru-based medical technology company Wipro GE Healthcare said on Tuesday the investment would be done over the next five years to boost local manufacturing as it focuses on growing its footprint in the country in line with the government's "Make in India" initiative. As part of the investment, the company will manufacture its PET CT diagnostic scan devices in India for export to 15 countries, it said. A PET CT (positron emission tomography and computed tomography) scan, used in the treatment of illnesses such as cancer, is a combination of imaging methods to understand the functioning of the body up to the cellular level. Wipro GE Healthcare's other high-end medical technology devices such as its CT scanners and MR breast coils will also be manufactured in India, the company said in a statement."As India envisions to be among the top five global manufacturing hubs in terms of value and technology for medical devices in the coming years, we are committed to the national healthcare agenda," Wipro GE Healthcare Managing Director Chaitanya Sarawate said. The company, established in 1990, started a greenfield manufacturing unit in 2022 in the southern Indian city of Bengaluru as part of the government's production-linked incentive scheme.

The scheme is a financial incentive for companies to encourage local investments and manufacturing. The company, which has four manufacturing plants in Bengaluru, also known as India's Silicon Valley, focusing on export services, said it would continue to invest in India and expand its global footprint.

($1 = 83.3400 Indian rupees)