How Does Medtronic's CEO View The Indian Medtech Market?
Wednesday, January 21, 2015
When it comes to emerging markets, revenue from India is a drop in the bucket for medical device maker Medtronic.
In late November, Omar Ishrak, the company's CEO, declared that India represents just 15% of the revenue of its larger Asian counterpart - China. Despite the challenges there, Ishrak said he wants to pursue opportunities there.
And then on Dec. 24, the Indian government decided to open the doors to foreign medtech multinationals wider by allowing 100% foreign direct investment in the medical device sector under what is known as the "automatic route." The move is a special carve out for medical devices from policies that regulate foreign direct investment in pharmaceuticals.