Dutch multinational conglomerate company Philips announces that it plans to invest ₹300 core and hire 1500 new employees in India. This announcement was made by the CEO of Philips Global, Frans Van Houten.
He also mentioned that the company is planning to expand its facilities in Pune, India. After establishing its Innovation Center in Bengaluru, the company now wants to expand its operations in other cities like Chennai that would create new employment opportunities for Indian workers.
Van 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.”
The enterprise wants to use the massive talent pool of India to grow further and believes that India is a great market to be in. Van also mentioned that there is a huge possibility of growth in the local manufacturing industry as the country has a good workforce.
Leveraging the manufacturing potential, Philips will expand its Pune facility to increase its production capacity. Due to the COVID-19 pandemic, Philips had increased its manufacturing rate of critical care equipment like ventilators and monitors in the later quarters of 2020.
“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,” said Van.
Last year, the company announced that it would invest ₹300 over three years to manufacture X-ray equipment, MRI components, and ultrasound machines in its Pune facility. Managing Director and Vice-chairman of Philips Indian subcontinent division, Daniel Mazon, said, “Covid-19 is not stopping us from our plans as we double down on our investments and focus on India.”