Maharashtra aims to become the no 1 destination for medical tourism at IMC Medical Tourism Conclave
Medical tourism in India expected to touch US$ 8 billion from current US$ 3 million
Medical value travel in India is far more cheaper compared to other regions
IMC to establish a task force for state government to draft medical tourism policy
by Shrutee K/DNS
28th November 2016, Mumbai:Growing at 20-25% per annum, the medical tourism industry in India is one of the fastest growing healthcare markets across the globe and has caught the attention of several healthcare and hospitality providers. Medical Tourists from Asia, GCC, Africa and the SAARC regions are increasingly opting for India as the preferred destination for advances medical treatments and services. “Maharashtra aims to become the no. 1 destination for medical tourism through state-of-the-art healthcare facilities, well-trained medical professionals and low cost of delivery as compared to cities like Tamil Nadu and Delhi” Smt Valsa Nair, Principal Secretary, Tourism and Culture, Govt of Maharashtra said at her address at the Medical Tourism Conclave, organized by the IMC Chamber of Commerce & Industry in Mumbai.
Speaking at the conclave, she said, “Medical tourism in India is seen as the next crown jewel that could shape the future of India’s economy and health care. The Indian medical tourism industry is expected to grow from current US $ 3 million to US $ 8 billion attracting medical tourist from Bangladesh, Iraq, GCC, CIS region and Africa. Our objective is to provide infrastructure, hospitals and medical facilities in Pune, Nagpur and other centers around the state.
Maharashtra is planning to create a single web platform which will provide plethora of services and facilities to the global patients seeking assistance in India. With 100% FDI in medical and devices sector it will further give a boost to the Make in India initiative.
As a medical tourism destination, India is known for high-class treatment at affordable costs. The country’s cost benefit gives it a definite edge over other countries like Singapore and Malaysia. Medical treatment in India enables savings of 30 - 70% on total expenditure.
Mr. Deepak Premnarayen, President, IMC, said “Apart from the Medical Tourism Council, the IMC Chamber of Commerce & Industry is also looking into creating a task force which will put together its suggestions for drafting the necessary and appropriate policies for the promotion of medical tourism in the state. While there are several challenges such as adequate insurance, complaint resolution mechanism, safety regulations, norms governing malpractices etc; the state also presents several opportunities which the government can extend its support to. We will also evaluate more engagement and associations with partner countries to provide a fillip to this growing industry”
He further added “Bangladesh and Afghanistan dominate the Indian Medical Value Travel (MVT) with 34 per cent share. Africa, GCC and CIS regions present the maximum possible opportunity for the Indian healthcare sector. Medical tourists from these regions currently favor the South East Asian medical corridors.”
Leading doctors like Dr. S. Natarajan - Chairman and Managing Director, Aditya Jyot Eye Hospital, Dr. Darius Soonawala – Orthopaedic & Joint replacement surgeon, Jaslok Hospital, Dr. Vinay Jacob –Cosmetologist Bombay Hospital and Dr.Sumit Pal – Cardiovascular Thoracic Surgeon, Apollo Hospital, Mr. Rajiv Duggal – CEO, Lavassa Hospitality, Mr. Devendra Bharma – EVP, Oberoi Hotels, Dr. Hidayat Khan CMD Human Care Air Ambulance and Dr Parag Rindani AVP & Head Wockhardt Hospital participated in the panel discussions during the conference.
India currently garners no more than a minuscule percentage of the world medical tourists contributing to less than 0.1% of the nation’s GDP. With a concerted effort India can target a GDP share of 2% from medical tourism. However, lack of unified pricing, visa policies, and the tussle between public and private hospitals present a challenge which needs to be addressed.
About IMC: Set up in 1907, IMC is an apex Chamber of trade, commerce & industry with headquarters in Mumbai. It has about 2700 direct members, comprising a cross section of the business community, including public and private limited companies and over 225 trade and industry associations through which the Chamber reaches out to over 2,50,000 business establishments in the country. IMC is the first Chamber in India to get ISO 9002-2000 certification which has since been upgraded to ISO 9001: 2008. IMC is the only business Chamber in India with which the Father of the Nation, Mahatma Gandhi, was associated as an Honorary Member.
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