Telangana has received several investments over the years, due to IT Minister K T Rama Rao and a few other politicians, who encouraged many reputed corporations to invest in Telangana. Medtronic PLC, a Dublin-based global leader in healthcare technology, has announced an investment of more than $350 million (approximately Rs. 3000 crore) to expand the Medtronic Engineering & Innovation Centre (MEIC) in Hyderabad, in a significant development for the healthcare technology sector in India.
MEIC is Medtronic's largest research and development (R&D) facility outside of the United States. MEIC already employs over 800 people, the majority of whom are engineers, and the investment announced on Thursday is intended to increase that number to over 1500 in the next five years.
Medtronic executives announced the news after meeting with IT and Industries Minister KT Rama Rao in New York on Thursday.
MEIC intends to leverage India's large pool of diversified and competent personnel in engineering, mobile applications, application and desktop software, cloud / web apps, data engineering, embedded software, product security, and cyber-product security with this expansion.
