SynopsisPhilips India is focusing on growing healthcare infrastructure and artificial intelligence. The company's R&D footprint in India is significantly strengthening its global operations. Investments will continue to support Philips' positive growth story in the country. Philips sees opportunities in sleep and respiratory care as awareness increases. The company prioritizes value over price when facing competition from other firms.iStockPhilips India bets on healthcare spending, AI and R&D expansion to drive its next phase of growth. (Representational Image)Philips India is betting on rising healthcare infrastructure spending, artificial intelligence and its growing R&D footprint to drive its next phase of growth in the country, which has already emerged as a key global hub for the healthcare technology major.The company has close to 8,500 employees in India, accounting for around 12.5% of its global workforce, and has invested Rs 1,750 crore in the country over the last four to five years across manufacturing, innovation and R&D.“From an importance of the global footprint, India is extremely important for Philips. And that’s the commitment that we’ve made,” Bharath Sesha, Managing Director, Philips Indian Subcontinent, told ET.Read More: Wockhardt takes on India’s superbug crisis with new antibiotic academyIndia’s role extends beyond the domestic market. “One in two machines sold by Philips worldwide has software developed in India. And a dominant share of AI innovation in the world happens in Bangalore. So, we’re already one of the most important cogs in the Philips R&D innovation wheel already today. And it will continue to strengthen,” he said.The company expects India’s expanding healthcare infrastructure to create opportunities across its portfolio, particularly as the government invests in upgrading district hospitals and primary healthcare centres. Philips operates across diagnostic imaging, including MRI, CT, X-ray and ultrasound, cardiac care, connected care and personal health.“We see growth across the spectrum,” Sesha said.“The overall picture is that India is going to be a positive story for Philips and we continue to grow well in Philips. So whatever investments are needed for us to continue this growth, we are committed to making,” he said.Read More: IIT Guwahati develops 'E-Eye' for rapid detection of Cancer-causing heavy metals and other toxicantsPhilips is also seeing an opportunity in sleep and respiratory care as awareness of sleep-related disorders rises in India. “Generally, as the awareness goes up, the market will, of course, improve because more people are aware and more people want to deal with, any sleep-related topics that they have,” Bharath said.On increasing competition from Chinese medical-device companies, Bharath said Philips would focus on the value it delivers to patients and clinicians rather than compete only on price. “As long as we continue to focus on these two, I think we will do well,” he said.AI is expected to be an increasingly important part of this growth strategy. Philips’ latest report found strong receptiveness to AI among Indian clinicians and patients, with 71% of clinicians saying AI enables them to see 10 additional patients a week. However, the report also flags concerns around trust, training and governance, with 77% of clinicians saying there are no clear processes for monitoring AI tools and 69% concerned about AI making errors.Sesha said Philips’ approach is “human led AI enabled”, with AI supporting rather than replacing clinical judgement.“AI can only suggest clinical outcomes, it can never make a clinical decision or should never make a clinical decision,” he said.Read More News on...moreless