For Sector To Take Off, Legislation And Infrastructure Need To Be
Medical tourism can spin a dollar dream
It is tourism with a difference:
healthcare or medical tourism. This is an area that Indian can have
an edge in provided it is developed well. According to a McKinskey
report, medical tourism can fetch up to $2bn. However, for the
sector to take off, there needs to be a drastic improvement in
infrastructure and better promotion of India as a medical
destination. Ficci has chalked out areas on which both the
government and the private sector need to work on if medical tourism
is to take off in India.
India turns to Gulf to sell healthcare services
With UK failing to live up to initial
promise of a fertile ground for attracting patients for Indian
healthcare service providers, attention is now shifting to the
Middle East. A CII delegation of top corporate hospitals in the
country will soon be off to Abu Dhabi and Dubai to sell India's
healthcare services and clinch business.
Hindustan Latex, Chinese co in JV for contraceptives
In yet another example of growing
cooperation between India and China, state-run firms from both
countries are joining hands to promote family planning in the
world's most populous nations.
Virtual autopsies may replace need for scalpels one day
Chicago: In the not-too-distance
future, autopsies might be performed using computerised scanning
rather that scalpels if research led by a Swiss forensic pathologist
India set to become a global hub
After information technology,
bio-technology may be the next sector that the global market will
identify India with. Bio-technology is not only proving to be of
tremendous help to the agriculture sector, but, the pharmaceutical
sector is also gearing up to match the global inclination towards
Healthcare just got an energy shot
Call the doctor, he's well within
earshot. When and X-ray appears fuzzy, or a diagnosis is too
skeletal, there's a whole aid kit waiting to be dug into right here.
Budget Impact on Pharma
The impact on pharmaceutical
companies appears slightly positive as overall importers are around
10-11% of total sales. Import duty on bulk and intermediates has
been cut to 20%, form 25%. So, companies will be gainers of 50-60bp
of sales or 2-3% of net profits. In some cases, it will have to be
passed on to the consumer. But those companies, whose sales are
through exports and enjoy duty entitlement pass book benefits and
are derived form export oriented units, won't have a major positive
impact. The duty on specified life saving bulk drugs, formulations,
medical equipment, which has been reduced to 5%, will have a slight
positive impact on companies as these drugs account for less than 2%
of overall sales of the industry.
Why do life saving procedures cost a
bomb? The rising costs of quality healthcare pinch hard, especially
when given the general income levels in the country. While choosing
where you want to get treated, knowing what you are paying for can
make the decision less painful. From an individual's point of view,
it is prudent to know why some hospitals charge more and some less,
before deciding where you want to go under the scalpel.
India Excels with software for handicapped
Product launchers are par for the
course at information technology fairs but you don't expect anything
spectacular at a sarkari show where ministers gather to talk what
ministers talks about IT. But the Asia IT ministers' second summit
here produced a few surprise: At the inaugural session, Union IT
Minister Arun Shourie presented to the delegates some stunning
software tools developed in some state owned R&B labs in India:
a translation and search combination that can deliver an answer to
an SMS query in Hindi, software for the visually handicapped.
India Inc needs 'next practices': CK Prahlad
Indian Corporate sector needs to
adopt strategies in corporating 'Next practices' to enhance
competitiveness, as implementation of best practices by all
companies would only result in the formation of mediocre firms,
observed Dr. C K Prahlad, Harvey C. Fruehauf Professor of business
administration at the University of Michigan Business School.
Pharmaexcil action plan to be in by April
Pharma bodies of the likes of the Bulk Drug Manufacturers Association (BDMA), Organisation of Pharmaceutical Producers of India
(OPPI), Indian Pharmaceutical Association (IPA), and Indian Drug Manufacturers Association
(IDMA), are gearing up to draw an action plan for commencing the operations of Pharmaexcil by April this year.
Medical part cos to benefit from expansion in health sector
The healthcare sector which is witnessing rapid expansion, on account of grant of industry status and a surge in medical insurance business, is likely to fuel the demand for medical equipment manufacturers. Based on this premise, the equipment majors of the likes of
Siemens, GE and Kodak, have started networking with healthcare companies which have drawn ambitious plans to expand. "The grant of industry status and opening up medical insurance business is just the beginning. The greater picture will emerge later since the government is taking special efforts to promote India as a global healthcare destination. There is enough room for equipment manufacturers like us to grow," D
Ragavan, executive vice president, medical solutions, Siemens, told ET.