Philips India is betting big on its healthcare segment

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Philips India is betting big on its healthcare segment

Indians feel the healthiest in the world, and yet do the least amount of exercise. It's insight like this, thrown up by a survey by Philips India, that is tempering the company's plans in India, reports CNBC-TV18’s Sunanda Jayaseelan.

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Indians feel the healthiest in the world, and yet do the least amount of exercise. It's insight like this, thrown up by a survey by Philips India , that is tempering the company's plans in India, reports CNBC-TV18's Sunanda Jayaseelan.

Here is a verbatim transcript of Sunanda Jayaseelan's comments on CNBC-TV18. Also watch the accompanying video.

It's been less than six months since he took charge of Philips India, and Rajeev Chopra has no time to soak it in. His immediate focus is to maintain growth rates across verticals like healthcare, consumer lifestyle products and lighting products - a move to help the parent company make its emerging market operations account for 40% of global revenues by 2015.

Rajeev Chopra, VC and MD, Philips Electronics India says, "In the last calendar year, we grew 20%. We are confident and will focus on growing at the same rate."

Of its three verticals, Philips is betting big on healthcare. It will add to its three Indian manufacturing facilities in this arena by commissioning a fourth one at Chakan. This is slated for the first quarter of FY12, and will help grab a larger share of the one-and-a-half to two billion dollar addressable market. Philips will also focus on greater penetration into tier-2, tier-3 and tier-4 towns.

Krishna Kumar, VP and business head, Philips Healthcare says, "We have several tie-ups with local government's and local hospitals, this helps us bring down costs and makes our products more accessible."

Its other verticals will not be neglected either. Philips aims to touch at least a small portion of India's six lakh-odd villages with its solar lighting in the next three years and will then use those channels to push other products.