GE in India: Changing Healthcare

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It was the morning of December 2014, Munesh Makhija reflected on the existing strategy of General Electric (GE) for Bottom of Pyramid (BoP) markets. Makhija had taken over as Managing Director, GE India Technology Center and Chief Technology Officer (CTO) – GE South Asia, in early 2014. Earlier, he served as the CTO for GE Healthcare India from 2010 to 2012 and had spent a little over 12 years, much of it in the US, in its healthcare business. In the past few years, he had the opportunity to get a first-hand feel of the BoP market. He could see how healthcare sector, particularly medical devices market was undergoing a rapid transformation. The impact of ‘Reverse Innovation’ which was the outcome of the strategy adopted by GE to promote frugal innovations with a focus on BoP markets in India and other like markets fascinated him. GE had successfully launched 25 super value products (Exhibit 1) primarily for the BoP market in the last five years and had received a favorable response for all of them. However, frugal innovation in India was becoming more common in the healthcare space ranging from low-cost surgeries to low-cost medical devices and competition was building up.

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