Vivek Tandon, Vice President, Primus Partners, emphasizes that India is no longer just a hub for low-cost manufacturing but a growing leader in global healthcare innovation. Highlighting the country’s cost advantages, skilled STEM talent, and supportive policies, he highlighted that medtech firms are increasingly embedding India into their core value chains. This shift is exemplified by Philips’ massive 650,000 sq ft campus, now its largest global innovation hub, which supports over 5,000 professionals and includes more than 36 labs. The facility also manufactures Affiniti Ultrasound machines under the ‘Make in India’ initiative.