Healthcare sector will grow at a faster rate: Ramadoss | business | Hindustan Times
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Healthcare sector will grow at a faster rate: Ramadoss

Indian health care industry will contribute 8.5 per cent to GDP by 2012, said Union Health Minister Ramados.

business Updated: Mar 31, 2007 16:07 IST

Union Health Minister Anbumani Ramadoss has said the Indian Healthcare sector has the potential to grow at a much faster rate in the foreseeable future and shall present new "sectors of opportunity" within healthcare, which shall emerge as growth drivers.

During 2002, India's health care industry contributed 5 per cent of the GDP. By 2012 this industry is projected to contribute 8.5 per cent of the GDP. Health care spending in the country will double over the next 10 years, he said addressing the medical and public health students and researchers at the Boston University in the US yesterday.

In the last five years, the number of patients visiting India for medical treatment rose from 10,000 to about 120,000. With an annual growth rate of 30 per cent, India is already inching closer to Singapore, an established medical-care hub that attracts 150,000 medical tourists a year, an official release quoted him as saying.

With a rural population nearing 700 million, India will benefit enormously from digital data transmission related to healthcare. Both public and private entities are aggressively pursuing the use of telemedicine to hasten diagnostics and treatment of a variety of diseases.

The Indian government has also made important commitments to telemedicine by reducing import tariffs on infrastructure equipment.