New York, USA, May 18, 2023: Medtronic, a global leader in healthcare technology, has announced an investment of Rs.3,000 crore (approximately $350 million) to expand its Medtronic Engineering & Innovation Center (MEIC) in Hyderabad, Telangana, India. The deal was inked by KT Rama Rao, Minister for IT & MAUD, Govt of Telangana in the US. The expansion will create over 2,000 new jobs in engineering, research and development, and other areas.
The expansion of the MEIC will allow Medtronic to accelerate its innovation efforts and bring new products to market faster. It will also help the company to meet the growing demand for its products in Telangana, India, and other emerging markets.
This investment is a vote of confidence in the healthcare sector and its growing talent pool in Telangana. It is also a sign of Medtronic’s commitment to India, where it has been operating for over 30 years.
Hyderabad’s MEIC is Medtronic’s largest engineering and innovation center outside of the United States. It was established in 2008 and currently employs over 1,000 people. The center focuses on developing new products and technologies for the cardiovascular, diabetes, and surgical markets.
There is no better testament to the pro-business policies of Telangana Government than a repeat investment, with this fresh investment of more than USD 350Mn, Medtronic’s cumulative investment in Hyderabad becomes about Half Billion USD – Minister K T Rama Rao
There is no better testament to the pro-business policies of Telangana Government than a repeat investment, with this fresh investment of more than USD 350Mn, Medtronic’s cumulative investment in Hyderabad becomes about Half Billion USD – Minister K T Rama Rao
The expansion of the MEIC is a major boost to innovation and to create over 2000 new jobs in engineering, research and development, skilled workers and other areas, and help to make India a global hub for medical device manufacturing. The new investment will certainly help to boost the Indian economy, and a win for Medtronic too. It will help the company to stay ahead of the competition and bring new products to market faster. Overall, the Medtronic investment in India is a major boost for the Indian healthcare sector. It will create new jobs, boost innovation, and help to make India a global hub for medical device manufacturing.
The MEIC is Medtronic’s largest engineering and innovation center outside of the United States. The expansion of the center will allow Medtronic to accelerate its innovation efforts and bring new products to market faster and will allow Medtronic to continue to grow its business and improve the lives of patients around the world.
For the state of Telangana, this is a proud moment, to make India a global hub for medical device manufacturing. The expansion of the MEIC will help to make India a global hub for medical device manufacturing. This will also attract investment from other companies and help to create a more competitive environment in the Indian healthcare sector.
The state of Telangana is well-positioned to attract even more investment from the US in the years to come. Minister KTR’s proactive initiatives have attracted many and Telangana becoming cynosure of all eyes, a major destination for investments from across the globe.
