The largest R&D facility outside of the US will be built in Hyderabad by the medical technology giant Medtronic with an investment of Rs 3,000 crore ($350 million).
The business will increase the initial $160 million investment it announced for the Medtronic Engineering & Innovation Centre (MEIC) in 2020 as part of its worldwide R&D-led innovation and growth strategy.
More than 800 employees work for MEIC, and over the next five years, that figure will surpass 1,500.
Telangana’s visiting IT minister, KT Rama Rao, met with Mike Marinaro, executive vice president and president-surgical operations unit, and other Medtronic executives.
“Telangana has been a front-runner in the field of life sciences and was also one of the first states in India to recognise medical devices as a high-potential and high growth sector. The expansion of MEIC is a testament to the city’s robust ecosystem and Hyderabad’s growing prominence in the global med-tech sector,” Rao said.
The investment will support robotics, imaging and navigation, surgical technologies, and implantable technologies.
