Indian Economy News

Union Minister Dr. Jitendra Singh says, India under Prime Minister Mr. Narendra Modi has become one of the world’s most cost-effective healthcare destination, with the latest technology tools deployed, across care delivery

According to Dr. Jitendra Singh, the Union Minister of State (Independent Charge) for Science and Technology, the Minister of State (Independent Charge) for Earth Sciences, and the Minister of State (Independent Charge) for Personnel, Public Grievances, Pensions, Atomic Energy and Space, India has emerged as one of the nations with the most affordable healthcare systems in the world under Prime Minister Mr. Narendra Modi.

More than 10 lakh medical visas were awarded to foreigners between 2019 and 2022, according to Dr. Jitendra Singh, who spoke at the Economic Times' Healthcare Leaders Summit-2022. The nation is quickly becoming a major centre for medical tourism, he added. This amount, he claimed, is quite noteworthy because foreign travel was almost prohibited throughout the pandemic. The Minister also emphasised that India has nearly 600 internationally and nationally recognised hospitals that offer top-notch medical care in an affordable way.

According to Dr. Jitendra Singh, the Indian healthcare sector is anticipated to increase in size to US$ 50 billion by 2025, while the global market for medical tourism is pegged at around US$ 72 billion. By 2023, India's share of medical tourism, according to him, is anticipated to be around US$ 10 billion. The Minister also noted that the nation is the largest supplier of generic medications in the entire world.

He noted that there are currently more than 4,000 healthtech startups in India, including platforms that help monitor health conditions, apps that use AI to detect illnesses and diseases, platforms that connect patients with doctors, and much more.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.