Need for More Investment in the Localization of Advanced Technologies
Chandra Ganjoo, Group Chief Executive Officer, Trivitron Healthcare, 0
India is on its way to becoming a global hub for medtech solutions. The country's medtech sector was valued at Rs.99,600 crore in 2023 and is projected to grow by Rs.4.15 lakh crore by 2030. Yet, the industry still faces certain stumbling blocks impeding its growth. In this regard, CEO Insights India has taken a precise excursion with Ms. Chandra Ganjoo, Group Chief Executive Officer, Trivitron Healthcare, who shares her leadership insights in the medical devices manufacturing industry. Chandra stems from a rich background in handling international joint ventures, brand & marketing, change management, and strategic development initiatives. She has been a pillar of strength to Trivitron Healthcare through various strategic efforts that have cemented its position in the Medical technology industry.
What are the crucial experiences that helped you emerge as a leader in the medical equipment manufacturing industry?
I strongly believe that every leader should start from the basics of any organization. It’s a life experience to go through challenges, failing, and trying again and again to achieve success, and once you get it, it not only builds resilience but also provides a deeper understanding of the gaps that need addressing. This is a great enabler for leaders to make meaningful contributions and guide others more effectively in their own growth.
Having spent a quarter of a century with Trivitron Healthcare, I have gained many valuable lessons and instilled many newer attributes along the way. Starting my career here as a fresher, my learning journey has been incredibly enriching. I’ve made mistakes, learned from them, and had the privilege of being mentored by some of the best professionals I could have hoped for.
Over the years, I’ve had the opportunity to work across nearly all functions of the organization, contributing meaningfully to the roles assigned to me. This experience provided me with a deeper understanding of each function, providing invaluable insights into the organizational strengths, areas for improvement, and critical changes needed.
Witnessing our organization grow from a start-up to a Global MedTech innovator has been an extraordinary experience. This journey wouldn’t have been possible without the highly dedicated and committed team. All credit to them for transitioning from a trader to a manufacturer and ultimately a proud contributor to the 'Make in India' story. This all belongs to them. This milestone reflects the strength of our collaborative efforts and reaffirms our shared purpose of being globally recognizable for our MedTech innovations.
How do you achieve corporate vision amidst such a competitive industry?
No matter which industry you belong to, the basics remain the same. You need to be the people's manager, so people-centric programs and plans are a must-have in your varied initiatives. Any leader who has the backing of their people will win the game. So, focusing on people through various initiatives should be the priority for every leader.
Technology upgrades are a must, from people management to process management to product management. Investing in technologies and upgrading the present techno format is crucial in this ever-evolving technology world today.
Not to forget that Customer-Centricity remains the topmost agenda for all leaders. Involving people, AI, and technological platforms for customer satisfaction remains the priority for leaders to remain competitive.
How do you perceive their innovative spirit in helping Indian healthcare practitioners access the latest technology so far?
In today’s world, leaders are bold enough to converge technology and human understanding to offer fresh perspectives. They promote new technologies, including AI in early diagnosis, telemedicine, smart health wearables & platforms. At Trivitron, we believe in translating progress to the masses by providing affordable technologies such as digital radiology and portable diagnostic devices. We were able to achieve this by cultivating a culture of innovation through investment in start-ups, promotion of government policy, and engagement in cross-sectoral partnerships. These activities close the gap between having ideas and coming up with a practical solution, enabling healthcare practitioners in India to shift paradigms in patient care.
Are there untapped opportunities/pathways yet to be realized in Medical Equipment manufacturing?
Significant effort has been made to bridge the gap in healthcare delivery, yet there are areas that are underutilized. With indigenous manufacturing and innovation hubs, India has become more self-sufficient, and ready to sustain the increasing demand for diagnostic and imaging technologies. The shift from imports to Make in India has improved affordability and accessibility. Government programs & policies have helped the manufacturers to invest more in technology. However, there are still shortcomings regarding rural healthcare, the adoption of wearable technologies, the customization of medicine, regulatory barriers, Public-Private partnerships, and export-related challenges.
Leaders need to invest more in the localization of advanced technologies and bringing newer technologies that can ease the process of patient care. AI-generated analytics, enlarge telehealth infrastructure as well as facilitate start-ups targeting more overlooked areas. Focus on these aspects holds great promise and can transform India into a global med-tech hub while addressing the gaps in the domestic market as well.
How should leaders cultivate a learning and collaborative culture within their teams?
Through effective message and intent, effective decision-making blended with the right enthusiasm and unbiased support - the leaders should focus on not only developing a clear vision for the company but also making it a priority to work towards its accomplishment. At Trivitron, we apply the ‘Five Ps’ – People, Process, Product, Project, and Profit – to foster authenticity, creativity, and shared goals through collaboration and socialization.
Setting the aims, showing results, and understanding the problems toward achievements are crucial. Leading with such principles embedded in guidance, people will lead their teams or divisions with inclusion and teamwork, where fears to innovate will not arise, enabling growth for the organization as well as individuals
What would you advise leaders as a leading MedTech solution provider?
MedTech organizations looking to grow should focus on innovation and newer ideas. They must understand and operate the business that aligns with the society strategy, which calls for investing in AI, robotics, and sustainability for R&D. There are strong impacts like relationships with customers and legal regulations globally that need to be adhered to along with policies available such as make in India. We at Trivitron, pursue quality and accessibility, while deepening our regional presence globally. In a competition, leaders must build agility, be ready to invest in the growth of people, and remain informed on trends emerging in the marketplace.
For any business to succeed, the most crucial element is its purpose – a vision that is clear and quite relevant with an objective of offering one or more solutions that will last for ages. This helps establish the groundwork for success for many years to come. If the organization is driven by a good purpose that creates value, then success is the outcome.
In today’s world, leaders are bold enough to converge technology and human understanding to offer fresh perspectives. They promote new technologies, including AI in early diagnosis, telemedicine, smart health wearables & platforms. At Trivitron, we believe in translating progress to the masses by providing affordable technologies such as digital radiology and portable diagnostic devices. We were able to achieve this by cultivating a culture of innovation through investment in start-ups, promotion of government policy, and engagement in cross-sectoral partnerships. These activities close the gap between having ideas and coming up with a practical solution, enabling healthcare practitioners in India to shift paradigms in patient care.
For any business to succeed, the most crucial element is its purpose – a vision that is clear and quite relevant with an objective of offering one or more solutions that will last for ages.
Are there untapped opportunities/pathways yet to be realized in Medical Equipment manufacturing?
Significant effort has been made to bridge the gap in healthcare delivery, yet there are areas that are underutilized. With indigenous manufacturing and innovation hubs, India has become more self-sufficient, and ready to sustain the increasing demand for diagnostic and imaging technologies. The shift from imports to Make in India has improved affordability and accessibility. Government programs & policies have helped the manufacturers to invest more in technology. However, there are still shortcomings regarding rural healthcare, the adoption of wearable technologies, the customization of medicine, regulatory barriers, Public-Private partnerships, and export-related challenges.
Leaders need to invest more in the localization of advanced technologies and bringing newer technologies that can ease the process of patient care. AI-generated analytics, enlarge telehealth infrastructure as well as facilitate start-ups targeting more overlooked areas. Focus on these aspects holds great promise and can transform India into a global med-tech hub while addressing the gaps in the domestic market as well.
How should leaders cultivate a learning and collaborative culture within their teams?
Through effective message and intent, effective decision-making blended with the right enthusiasm and unbiased support - the leaders should focus on not only developing a clear vision for the company but also making it a priority to work towards its accomplishment. At Trivitron, we apply the ‘Five Ps’ – People, Process, Product, Project, and Profit – to foster authenticity, creativity, and shared goals through collaboration and socialization.
Setting the aims, showing results, and understanding the problems toward achievements are crucial. Leading with such principles embedded in guidance, people will lead their teams or divisions with inclusion and teamwork, where fears to innovate will not arise, enabling growth for the organization as well as individuals
What would you advise leaders as a leading MedTech solution provider?
MedTech organizations looking to grow should focus on innovation and newer ideas. They must understand and operate the business that aligns with the society strategy, which calls for investing in AI, robotics, and sustainability for R&D. There are strong impacts like relationships with customers and legal regulations globally that need to be adhered to along with policies available such as make in India. We at Trivitron, pursue quality and accessibility, while deepening our regional presence globally. In a competition, leaders must build agility, be ready to invest in the growth of people, and remain informed on trends emerging in the marketplace.
For any business to succeed, the most crucial element is its purpose – a vision that is clear and quite relevant with an objective of offering one or more solutions that will last for ages. This helps establish the groundwork for success for many years to come. If the organization is driven by a good purpose that creates value, then success is the outcome.