India has the potential to generate a staggering $774 billion revenue in the healthcare sector by 2030, suggests a new report
Last Updated at February 23, 2022 20:16 IST
India has the potential to generate a staggering $774 billion revenue in the healthcare sector by 2030, suggests a new report on Wednesday.
The report by Aspire Circle, a social impact leadership champion and advocate, showed that with an investment of $217 billion, the country can create 12 million jobs in healthcare and allied sectors, which can impact 1.5 billion lives by 2030.
“Indian healthcare will become the second most attractive investment sector this decade, behind food, agri and agriTech but ahead of BFSI, financial inclusion & fintech,” said Amit Bhatia, Founder of Aspire Circle & Creator – Impact Future Project, in a statement.
“Covid-19 has thrown open India’s health infrastructure fault-lines and both entrepreneurs and investors are on an epic mission to convert the crisis into an investment opportunity,” he added.
The report also spells out India’s top ten outstanding investment ideas, being shaped by new-age technologies, innovative business models, delivery platforms and regulatory environment: preventive and primary healthcare; pharma, drug, and vaccine manufacturing; screening, diagnostics, and testing; affordable healthcare and operational efficiency; medical tourism; e-healthcare and telecare; health insurance and innovative impact financing; e-pharmacies; medical workforce education and skilling; and gene therapy.
According to Bhatia, the top 10 ideas in the research can lead annual investment growth from $52 to $179bn between 2020 and 2030 and grow related revenues from $183 to $610bn.
“These top 10 ideas will serve and impact 1.5 bn Indians, create 12 million cumulative jobs and grow the overall sector to a colossal USD 774 billion by 2030 – an incredible promise worth nurturing,” he said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.