The state government has drawn up ambitious plans to attract investments in healthcare and medical tourism sectors during the forthcoming global investors meet to be held in the city from October 28-30.
The government plans to hold one-to-one meeting with leading healthcare services providers in Mumbai and also in Kerala, an industry department official said. The government has also earmarked lands in different districts so that investors can float concepts like Medi City in the state. "Leading names in medical sector have been invited to attend the global investors meet, and focus will be on medical tourism," the official said.
Big-ticket investment plans of pharmaceutical companies including Teva Pharma, Maylan Pharma and ACG Associated Capsules in Pithampur SEZ has also prompted the government to focus on pharma and health services sectors as part of its strategy to promote non-core sectors.
As for medical tourism, improvement in the air connectivity in the past few years has raised the hopes that Indore will become a medical hub and attract people from different parts of India and also from abroad due its cost benefits.
In a related development, the government recently came out with the Health Service Investment Policy-2012, which gives industry status to the healthcare sector. The industry department will chalk out separate rules and procedures in line with the industrial promotion policy and it will be endorsed by the apex investment promotion empowered committee constituted under the policy.
This will ensure that investors will not have to face any hassles related to documentation and litigation. The government has also planned one-to-one meetings in Mumbai and Kerala to attract fresh investments in the health sector and medical tourism in the state.
Capital Investment subsidy amounting to 25 per cent would be given on the opening of 100-bed hospital, medical college, nursing and paramedical school or college in cities with less than 10 lakh population. Its upper limit will be Rs 3 crore in cities up to 10-lakh population and Rs 5 crore in cities with bigger population.
Loan subsidy would be made available for establishment of micro, small and medium manufacturing industries as per the industrial promotion policy.