Maharashtra an attractive destination for businesses from the Netherlands

Sep 21, 2020

Start Date : Monday, Sep 21, 2020

End Date : Monday, Sep 21, 2020

Time (IST) : 02:30 PM - 03:45 PM

Time (UTC) : 03:00 AM - 04:15 AM

Services Offered : Entity Set-up & Management,

Speaker(s) : Marcel Floor, Dr. Rakesh Sarwal, Dr. Pradeep Vyas, Ravi Menon, Radhakrishnan Kodakkal, Esther Van den Heuvel

Industry : Healthcare

In this webinar, we explore opportunities in the Indian healthcare sector and how Maharashtra is an attractive destination for healthcare companies.

How can India and Netherlands strengthen their partnership?

“Global health is no longer a local or national issue - health and viruses travel across borders. Health is one global community.”

- Marcel Floor, Health Attaché | Netherlands Embassy

Here is what India and Netherlands can learn from each other:

  • On inclusion of the private sector to scale healthcare due to their expertise in logistics and product development
  • On understanding how to organize healthcare that is provided at the right time and place with the right information
  • On aligning state and center ambitions, preparedness, implementation
  • The Dutch government can find economic opportunities and learn ‘scaling’ from India
  • On digitization of healthcare and data collection

What is the status of Indian Healthcare?

“Medical devices and diagnostics including areas like e-health are now getting a lot of interest and are still significantly underpenetrated”

- Ravi Menon, Senior Adviser (Healthcare) | Nexdigm

Infrastructure

India is far behind the Netherlands in terms of doctor density, healthcare expenditures (4% of GDP compared to 10% for the Netherlands), and infrastructure (1.3 beds against 3.2 for the Netherlands).

Expenses

65% of healthcare expenditure for Indian citizens comes from their pockets against 10% - 11% for the Netherlands.

Disease profile

We have rapidly growing non-communicable diseases (NCDs) like the West including cardiovascular, oncology, diabetics, etc with a continuous burden of communicable and maternal diseases.

Healthcare industry size

The Indian healthcare industry is expected to grow at 17-19% CAGR, having received FDI worth USD $24.42 billion between 2000-2019. Over 70% is health care delivery (hospitals, clinics) while pharmaceuticals are under 20%.

Growth Drivers for Indian Healthcare

  • Growing middle class and economic growth
  • Increasing NCDs with longer treatment durations will boost medical insurances
  • Rising wellness concerns
  • Demand for patient-centric care
  • Cloud computing for better data access to patients and healthcare providers
  • Adopting mobile applications for managing healthcare

What are the key policies and incentives provided by India for the healthcare industry?

Ayushman Bharat Program

The scheme has two key aspects:

Creation

Establishing 150,000 well-funded geographically dispersed health and wellness centers for preliminary diagnosis to lower-income segments.

PM-JAY program

Healthcare insurance scheme worth $7100 that covers 1500 procedures in a year for the family. 11 million beneficiaries claimed over USD 2 billion.

Policy Initiatives

  • Regulation of medical devices for better governance and level playing field
  • Increasing healthcare expenditure to 2-2.5% of GDP

Incentives

  • Worldwide competitive corporate tax rate of 15%
  • 20-25% CAPEX in plant machinery
  • 15 years tax exemptions for domestic products
  • Preference for Indian manufactured products for government and public procurement

What are the emerging trends in e-health?

E-Health has seen good growth and adoption via telehealth and telemedicine that is being propelled by the COVID pandemic. The trends include:

  • Use of AI for enhanced customer engagement
  • Focus on connected care
  • Disease-focused applications
  • The emergence of online aggregators
  • Senior citizen care
  • Health apps aimed to improve personal fitness and preventive care measures

What is the National Digital Health Mission?

“It is meant to improve the efficiency, effectiveness, and transparency of healthcare service delivery in the country to achieve universal health coverage”

- Ravi Menon, Senior Adviser (Healthcare) | Nexdigm

The policy includes:

  • Creation of universal health ID for personal health records that is accessible via APIs
  • Linking public and private health ecosystems

What are the growth opportunities available in Maharashtra?

Maharashtra contributes 15% to the Indian economy with an FDI investment worth US$ 7.2 billion. It provides several benefits that ease businesses like:

  • 20% of Indian pharmaceutical industry output
  • The largest number of USFDA approved manufacturing plants in the country
  • The largest producer of vaccines in the country
  • 60% lower labor costs than the US
  • 10 R&D centers
  • 2 international airports and ports each
  • 20+ common effluent treatment plants

What opportunities does the Indian healthcare industry provide?

Indian Healthcare sector is growing with policies like:

  • Liberalized FDI policies with 100% for greenfield and 74% for brownfield projects
  • Direct FDI under hospitals, general health care, medical devices, biotechnology, pharmaceuticals, and insurance sectors
  • Productivity linked schemes to make the country self-sufficient for 41 formulations via 5-20% subsidy of the incremental sales on greenfield investments done within 120 days

How does the Dutch healthcare landscape look like?

“The central mission is that by 2040 all citizens in the Netherlands live at least 5 years longer in good health and reduce health inequalities between high and low socioeconomic populations by 30%”

- Esther van den Heuvel, Program manager Asia | Netherlands Taskforce Healthcare

The Dutch have enabled:

  • 3000 life science, healthcare, and research organizations, 11 science parks, 80 medical centers within a 120 miles radius
  • Excellent research and innovation portfolio in vaccination, antibiotic resistance, and polio

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