Philips targets double-digit growth in India
The company is encouraging domestic sourcing not only for the local markets but also for its global markets, he added.
"We have committed to India being the key market, and we have been both for personal health products as well as our med tech products. We do a lot of sourcing out of India. So, that continues with the ambition. So, we continue to look at opportunities to scale back," Kaul told PTI.
In India, Philips operates in the personal health business, including the beauty and grooming segment, where it has various products like hair dryers, hair straighteners, hair brushes, beard trimmers etc. Its health business also includes oral care -- electric toothbrushes, and mother and child care products.
When asked about the growth outlook in India in the short to mid-term, Kaul said: "We are looking at a double-digit CAGR between 10 to 15 per cent".
The company expects its men's grooming, mother and child care with Avent and female grooming segments to be its growth drivers.
"But, in the next 2 to 3 years horizon, you will see us playing an active part in oral care," Kaul added.
India is currently among the top 10 markets of Philips.
"With this growth, the idea is, we have the aspiration in the next 5 years to get it into the top 5," he added.
In FY24, Philips India's standalone revenue from operations was Rs 6,000.4 crore, up 4.64 per cent year-on-year, according to financial data accessed by business intelligence platform Tofler.
Its personal health business contributed Rs 765.8 crore, while the 'Health Systems' vertical generated Rs 2,833.8 crore. Its innovation services contributed Rs 2,271.9 crore.
Philips, which is a market leader in the male grooming segment, on Tuesday launched a new line of premium electric shavers in India.
According to Kaul, the market is estimated to be around USD 400 million and growing at a healthy double-digit of 10 to 11 per cent year-on-year.
"We are the market leaders in different categories. We have between 40 to 65 per cent market share depending on one category and category," he said, adding that "we aim to bring innovation".
Philips is manufacturing its grooming products in India at Baddi, Himachal Pradesh.
"We have a manufacturing line already. We have got 13 to 14 products, which are made in India," said Kaul.
Globally, Philips is the leading brand for electric men's grooming brand and India is already in the top 10 markets for the company.
Philips on Tuesday launched premium electric shavers - Philips Series 7000, i9000 and Philips i9000 Prestige Ultra, which are designed with AI-powered SkinIQ technology. Its price starts from Rs 14,999 and goes up to 34,999.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
21 minutes ago
- Hans India
Maha: Outstanding Agri loans to various banks surge to Rs 37,392 crore
Mumbai: Amid hope for a crop loan waiver decision by the MahaYuti government as promised ahead of assembly elections, the arrears towards agriculture loan repayable to banks as on June this year have been reported at Rs 37,392 crore. According to the data compiled by the state cooperation department, of the Rs 37,392 crore, the district central cooperative banks (DCCBs) have yet to recover arrears of Rs 15,492 crore, nationalised banks Rs 18,00 crore, regional rural banks Rs 800 crore and private banks Rs 3,000 crore. The increasing outstanding dues are adversely impacting the finances of these banks. Nearly 20.37 lakh bank accounts of farmers have outstanding dues. The department sources on Thursday hinted that the arrears due to non-repayment by farmers towards crop loan, short, medium and major loans are expected to grow further as the farmers expect an early decision on crop loan waiver. Further, the department sources said that farmers are not repaying the loans despite the appeal made by the Deputy Chief Minister, Ajit Pawar and Agriculture Minister Manikrao Kokate to clear their dues at the earliest without waiting for the announcement of crop loan waiver. The government, on the last day of the monsoon session on July 18, announced the establishment of a committee to look into the crop loan waiver issue and the present state of agricultural stress. Cooperation Minister Babasaheb Patil said, 'The government has set up a committee to study the crop loan waiver option. It is a matter of concern that even the financially sound farmers are not repaying the loan. The financial health of district central cooperation banks, which play a major role in the rural economy, is becoming delicate. They are expected to land in big financial trouble.' According to the cooperation department sources, crop loans worth Rs 70,000 crore on average are disbursed annually in the state. Of which, 65 per cent of loans are disbursed by nationalised banks and 35 per cent by district central cooperative banks. 'Financially sound farmers with large land holdings opt for loans from the nationalised banks, while farmers having small and marginal holdings take loans from district central cooperative banks.' Sources said that the financial condition of many district central cooperative banks, including Nashik, Wardha, and Nagpur district banks, has become fragile. Even the financially sound district central cooperative banks are likely to face similar financial problems if the arrears from farmers towards agriculture loans increase in future. 'The government provides agricultural loans at concessional interest rates. However, farmers are not in the mood to repay loans as they anxiously wait for a decision on the crop loan waiver. However, if the farmers continue to repay loans, then there is every possibility that the rural agricultural credit system may collapse,' warned sources from the cooperation department.
Hans India
21 minutes ago
- Hans India
Delhi court reserves verdict on issuing notice to Robert Vadra in land deal case
New Delhi: A Delhi court on Thursday reserved its decision on issuing a notice to businessman Robert Vadra, son-in-law of former Congress President Sonia Gandhi, in connection with a money laundering case linked to a land deal in Haryana's Shikohpur. The Rouse Avenue Court will likely pronounce its verdict on July 31 regarding the issuance of a notice to Vadra, the husband of Congress MP Priyanka Gandhi Vadra. The Enforcement Directorate (ED) had filed a prosecution complaint under the Prevention of Money Laundering Act (PMLA), claiming that Vadra's Skylight Hospitality 'fraudulently' purchased 3.53 acres of land situated in the village of Shikohpur in Haryana's Gurugram district through 'false declaration'. During the hearing, advocate Zoheb Hossain, appearing for the ED, stated that the sale deed falsely declared a payment of Rs 7.5 crore, whereas in reality, no such payment was made. This amount was paid at a later stage to evade stamp duty, a fact that has been confirmed by key witnesses, added Hossain. Further, the federal anti-money laundering agency claimed that Vadra, 'through his personal influence', obtained a commercial license on the land purchased. As per the ED, the land was later sold to DLF at a higher price, and this aspect of the case is still under investigation. In April this year, Vadra was questioned in multiple rounds by the ED, during which his statement was also recorded. The land purchase deal in question was executed in February 2008 when Congress was at the helm in Haryana, and Bhupinder Singh Hooda was the Chief Minister. The mutation process, which usually takes months, was done the next day. Months later, Vadra received a permit to develop a housing society on the land, and the value of the plot increased. He sold it to DLF in June at Rs 58 crore. Suspecting the proceeds to be part of a money laundering scheme, the ED has been probing the trail behind the windfall gains. In October 2012, IAS officer Ashok Khemka (now retired), who was then posted as the Director General of Land Consolidation and Land Records-cum-Inspector-General of Registration of Haryana, cancelled the land purchase deal, citing procedural irregularities. Later in 2013, an in-house government panel gave a clean chit to both Vadra as well as DLF. When the BJP-led government came to power, an FIR was registered by the Haryana Police against former Chief Minister Hooda, Vadra, and others.
News18
21 minutes ago
- News18
ICMR study finds shortfall in radiotherapy utilisation across all cancer types
Agency: Last Updated: July 24, 2025, 21:30 IST Representational image (Image: News18) New Delhi, Jul 24 (PTI) A recent ICMR study has highlighted a substantial shortfall in radiotherapy utilisation across all cancer types and underscored the need for interventions to meet the gap in machines required for equitable cancer care. Published in the BMC Cancer journal, the study stated that 28.5 per cent of cancer patients receive radiotherapy, which is lower than the estimated optimal rate of 58.4 per cent. Breast, head and neck, lung and cervical cancer account for 60 per cent of India's radiotherapy needs, it said. Data from the Australian Collaboration for Cancer Outcomes Research and Evaluation (CCORE) were used by the researchers of ICMR-National Centre for Disease Informatics and Research, Bengaluru, for conducting the study. Epidemiological data on stage, subsite and histology from the National Cancer Registry Programme were used to assess the optimal utilisation proportion for India. A sensitivity analysis was carried out. Similarly, the optimal radiotherapy fraction has also been calculated. These measures have been used to estimate the existing radiotherapy utilisation gap by comparing with the current radiotherapy utilisation from the cancer registry as well as to estimate the optimal radiotherapy machines required for the country. 'This study provides a comprehensive assessment of radiotherapy demand and existing gaps in radiotherapy utilisation and in the number of machines in India based on an epidemiological analysis of the cancer burden from the National Cancer Registry Programme. Our analysis shows that approximately 58 per cent of all cancer cases in India should ideally receive radiotherapy based on clinical indications. 'However, the current radiotherapy utilisation in India is only 28.5 per cent, which is less than half of the required level," the researchers said. The study also recommended that India would require 1,585 to 2,545 machines, which may increase to a range of 2,016 to 2,291 external beam radiotherapy machines if the assumptions from previous benchmark studies are followed. The burden of four cancer sites — breast, head and neck, lung and cervical cancer — constitutes around 60 per cent of the total radiotherapy requirement for cancer care in India, the study said. This points towards an increasing demand for radiotherapy in the coming years as there is expected to be a 70-100 per cent increase in breast, head and neck and lung cancer in low and middle income countries (LMIC). Radiotherapy utilisation of most cancer sites is lower compared to optimal radiotherapy utilisation. Among the major indicated cancer sites, the deficit is more prominent in lymphoma and lung cancer (relative deficit of more than 70 per cent), followed by prostate, breast and oesophagus, it said. The study mentioned that India accounts for 7 per cent of global cancer incidence, ranking third after China and the USA. By the end of 2025, the incidence of cancer in India is projected to reach 1.57 million cases, posing a significant public health challenge. As the fifth leading cause of death in the country, cancer demands urgent attention to improve prevention, diagnosis and treatment, it said. Radiotherapy, a cornerstone of cancer treatment, plays a crucial role in controlling tumour growth, reducing tumour size pre-surgery, and alleviating pain in advanced stages. However, its availability in low and middle-income countries like India remains insufficient due to high setup and operational costs, creating a significant gap between demand and resources. The World Health Organization (WHO) recommends a minimum of one radiotherapy machine (external radiotherapy machine) per million population, with an optimal target of four per million, the study stated. For India's projected population of 1.45 billion in 2025, this translates to a need for a minimum of 1,450 machines. Yet, only 794 megavoltage (MV) machines are currently available. The shortfall is about 45 per cent from the minimal required standard, the study said. The study highlighted that in India, greater investment is needed to expand radiotherapy facilities to meet the growing demands of cancer patients. 'Aside from increasing the number of equipment, addressing the inequitable distribution of radiotherapy services is also crucial. To align with the country's cancer burden and ongoing cancer control efforts, India must meet evidence-based targets for radiotherapy machine availability. 'As a part of this, India is also ramping up efforts to develop and deploy affordable indigenous radiotherapy machines to improve access and reduce dependence on costly imports," the study stated. Furthermore, a detailed situational study of radiation equipment deployment with its features and complexity, utilisation and throughput is required for informed planning and policymaking. Cancer screening and early detection programmes can facilitate the diagnosis of cancers at earlier stages. This could reduce the required quantum of radiotherapy shortly and thus, improve the overall survival of patients, the study said. The cancer registry data informs the policy-makers to identify gaps in radiotherapy access, assess resource needs and guide decisions to ensure equitable and effective cancer care delivery. Swipe Left For Next Video View all Optimal radiotherapy utilisation (RTU) calculated for India was higher than optimal radiotherapy utilisation estimation done for developed countries like 48·3 per cent for Australia and 51 per cent for European countries, the study said. The optimal RTU calculation for middle income countries also has an average optimal radiotherapy utilisation value of 52 per cent ranging from 47 to 56 per cent. PTI PLB KSS KSS (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments News agency-feeds ICMR study finds shortfall in radiotherapy utilisation across all cancer types Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
