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| Philips to invest Rs 300 crore in India manufacturing, R&D | Writer | Admin | |||
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Philips, Dutch healthtech and consumer electronics company, plans to invest Rs 250-300 crore (US$ 35.47-42.56 million) to boost its manufacturing and R&D facilities in India. It also aims to hire 1,000 people over the next two to three years, adding to its existing workforce of over 6,000 people.
“Even as we work through the current crisis, we are focused on the future and are investing towards it,” said Mr Daniel Mazon, vice chairman and managing director for Indian subcontinent at Philips India.
He added that the company will expand its factory near Pune by 7,200 sq ft to start manufacturing magnetic resonance imaging (MRI) and x-ray equipment. Philips is also building a new 650,000 sq ft campus in Bengaluru that can house over 5,000 people and will be ready by 2023.
Read More: https://www.ibef.org/news/philips-to-invest-rs-300-crore-in-india-manufacturing-rd |
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