The challenges presented by the COVID-19 pandemic over the last two years. It highlighted all the gaps in the system and highlighted the demand for a revolution in the medical field. FDI in the healthcare sector has allowed investments for developing hospitals, healthcare centers, and the manufacturing of medical devices.
Despite the challenges, several opportunities are available. The foreign investment inflow boosts the sector’s growth and helps develop its infrastructure.
India is known as the world’s pharmacy. During the prevalence of the pandemic, the largest vaccination drive in the world was started by India, with almost 170 crore vaccines being distributed and the export of over 5 crore vaccine doses to 70 countries, further making its mark in the healthcare sector.
Additionally, India is a great place for medical tourism, adding to its armor. Make in India is turning into reality, and several organizations have begun to manufacture Ultrasound, CT scanners, Ventilators, and even MRI machines. APMTZ has turned into a hub for the manufacturing, and the import percentage has reduced due to Make in India.
FDI and the future of Healthcare today
In the previous years, with active governmental support, India has been able to present itself as a valuable investment for foreign private players, offering incentives and inviting FDI in the healthcare sector of the country.
This has permitted investments in developing hospitals, healthcare centers, and manufacturers of medical devices, boosting its growth and developing its infrastructure.
Growing Awareness for Personal and Family Health
With the shift of the urban population towards self-health monitoring already and implementing lifestyle changes for preventing or managing diseases, the pandemic has expanded the need for fitness even further.
As the spending power of the people grows and the number of youngsters joining the workforce increases, there is excitement about preventive medication and health screening.
Recommendations to Improve the Indian Healthcare Sector
Despite having a steady growth profile, there are gaps present in the Indian healthcare industry which can be closed. While the largest working-age population in the world belongs to India, it still lacks enough medical practitioners to cater to everyone.
As per the recent response from the government, the ratio of doctor-patient in India is 1:834. While this statistic is better than the one recommended by WHO, i.e., 1:1000, it is still not on par with the developed countries.
Some recommendations to ensure that no patient fails to get noticed are-
- Quicker implementation of the National Digital Health Mission will prove to be the most important initiative for infrastructure.
- Tele-Radiology, the AI-based software for reporting, might help in bridging the Doctor-Patient ratio.
- Made in India for High-end products such as MRI, CT scanners, and Ultrasound machines at reasonable prices will help in increasing the Installed base in tier 2 and 3 cities.
With several factors working in its favor, India has the potential to become a healthcare giant.
Becoming a powerhouse in the field of Healthcare requires taking the right steps in the correct direction, such as allowing enough amount of FDI in the healthcare sector to make investments in the field and providing products or services to people for daily usage.
What We Do
At FDI India, we help to simplify the complex structure of foreign investments and transactions under FDI via years of experience in the field. Our aim is to transform the face of the facilitation services of FDI India by keeping our focus on sustainable investments or loans for helping Indian businesses.
FDI India is transforming the investment climate of the country by making the business environment simple for investors. Its experts specialize across multiple different Indian states and sectors, handholding investors through their investment lifecycle right from pre-investment to aftercare.