B&E: How did you started off in India?
VR: GE Healthcare came to India in the year 1990 through a joint venture with Wipro Corporation. We obviously started at the bottom of the table as most of the big players had established business in India. GE Healthcare was represented through a GE business unit called IGE, which had some presence in the X-ray imaging business. Thus, our immediate vision was to establish ourselves as a top-of-the-line medical equipment supplier and a preferred partner for Indian healthcare practitioners.
B&E: So, how has been your journey till date?
VR: The biggest challenge we faced was do get business from the government. As we were a new entrant in the market therefore we could not grab a good mind share and were able manage only a meager percentage of its business. It took us time to educate them on our technology and service capabilities. However, today, with our investments in technologies, resources, education, et al, we are getting a good chunk of government business as well. Other learning was to bring in more local products and solutions for the local market. We believe we could have accelerated with “In India, for India” solution a lot earlier.
B&E: What is your advice to a MNC that plans to enter the Indian market in the near future?
VR: India is a huge market, but it’s a unique market. On one hand, it has an urban market, which is at par with the developed world, on the other it has a huge under-developed market that is crying for basic necessities. I would say that the key to growth in India to get a deep understanding of the Indian consumer. One should be patient enough to play a long innings and should bring out products/solutions that are aligned to Indian consumer needs.
B&E: What, according to you, are the factors that must be taken care of by the government?
VR: Infrastructure is a big issue here, whether it is road, electricity or healthcare, it really needs to be improved. However, government seems committed to growth and is willing to invest in infrastructure. It’s a very good sign.
VR: GE Healthcare came to India in the year 1990 through a joint venture with Wipro Corporation. We obviously started at the bottom of the table as most of the big players had established business in India. GE Healthcare was represented through a GE business unit called IGE, which had some presence in the X-ray imaging business. Thus, our immediate vision was to establish ourselves as a top-of-the-line medical equipment supplier and a preferred partner for Indian healthcare practitioners.
B&E: So, how has been your journey till date?
VR: The biggest challenge we faced was do get business from the government. As we were a new entrant in the market therefore we could not grab a good mind share and were able manage only a meager percentage of its business. It took us time to educate them on our technology and service capabilities. However, today, with our investments in technologies, resources, education, et al, we are getting a good chunk of government business as well. Other learning was to bring in more local products and solutions for the local market. We believe we could have accelerated with “In India, for India” solution a lot earlier.
B&E: What is your advice to a MNC that plans to enter the Indian market in the near future?
VR: India is a huge market, but it’s a unique market. On one hand, it has an urban market, which is at par with the developed world, on the other it has a huge under-developed market that is crying for basic necessities. I would say that the key to growth in India to get a deep understanding of the Indian consumer. One should be patient enough to play a long innings and should bring out products/solutions that are aligned to Indian consumer needs.
B&E: What, according to you, are the factors that must be taken care of by the government?
VR: Infrastructure is a big issue here, whether it is road, electricity or healthcare, it really needs to be improved. However, government seems committed to growth and is willing to invest in infrastructure. It’s a very good sign.
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