315 mn need health insurance: CII

With less than 10 per cent of the Indian population having some form of health insurance, the potential market for health insurance is huge, reports Jaya Shroff Bhalla.

With less than 10 per cent of the Indian population having some form of health insurance, the potential market for health insurance is huge.

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According to Confederation of Indian Industry (CII) estimates, the there are 315 million people needing insurance with an approximate potential of $ 7,700 million in health insurance premium by 2015.

“So, far there is very little awareness about health among masses and the government is not doing enough,” said Dr Prathap C. Reddy, chairman of CII National Healthcare Council and Apollo Hospitals Group.

CII insists healthcare should be given “infrastructure or priority” status. Sensing the growth potential in the healthcare industry, Dr Reddy said the government should set up a health development fund to be managed by a central agency or the development banks with participation from private promoters.