Consulate General of India Durban. Trade and Investment Opportunities in India. Focus Area : Medical Tourism

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1 Consulate General of India Durban Trade and Investment Opportunities in India Focus Area : Medical Tourism

2 Economy $2.45 trillion economy. Economic Growth: 7.9% ( ); 7.1% in ( ) Sectoral contribution to GDP Agriculture ~ 17.5% Industry ~ 29.6% (Manufacturing ~ 16.6%) Services ~ 53% Moderate 4~5% billion World Bank Growth Estimates: 7.6% (2018), 7.8% (2019) India s share in global GDP (2016): 2.99% (Nominal GDP) and 7.32% (GDP in PPP). India s share in global exports 2% (2016). FDI ~ $60 Billion ( ) +8% FOREX reserves ~ $393 Billion (5 Aug 2017) Current account deficit ~ 0.7% of GDP (2016); Expected 1.3% in 2017 Govt. Debt to 67% Household Debt to GDP ~ 10.1% Unemployment Rate 4.9% Labour Participation Rate ~ 52.5% Trade ( ): Exports ~ $275 Billion; Imports ~ $380 Billion Large Trading Partners: China, U.S., UAE, Hong Kong, Switzerland Central Bank Interest Rate ~ 6.5% Bank Lending Rate ~ % Yield on 10-yr Govt. Securities: 6.53% (June 2017) Credit Rating: Moody s : Baa3 (Positive) S&P : BBB- (Stable) IMF Forecast till China India 6

3 Young Demography World s youngest country by 2020, with an average age of 29 years A surplus workforce of 47 million against a deficit of 10 million in China and 17 million in the U.S. By 2030: India s workforce will have an average age of 32 years. In comparison, during the same period, the average age is expected to be 43 years in China and 39 years in the U.S Young Demography: A window of opportunity ~ To improve labour productivity, To increase domestic production, To enhance revenue from services, To increase savings; and To reduce the burden of old residents on the working population. Empowered with unique demographic advantages and guided efforts, India is poised to position itself among developed economies within the next years. MEA-ED 2017

4 FDI FDI figures in US$ billion % FDI allowed in 92% of sectors, including: 30% 25% 20% 15% 10% 5% 0% -5% -10% -15% -20% -25% No. 1 FDI Destination in the World. Most open economy in the world for investment. FDI flows in : US$ 60 Billion (+8%) National Investment and Infrastructure Fund (NIIF) created with a corpus of USD 6.2 billion. 1st Rank on the Baseline Profitability Index (BPI) BPI Ranking India : 1 U.S. : 50 China : 65 Brazil : 99 Russia : 108 Industrial Parks, Construction Development, Railways, Telecom, Defence and Petroleum & Natural Gas Exploration. profits Airports Greenfield & Brownfield; Ground Handling Services; MRO facilities; Flying & technical institutes. Credit Information Companies, Non-banking Finance Companies, and Asset Reconstruction Companies Pharmaceutical, Bio-tech, Medical Devices Greenfield & Brownfield Mining coal & lignite, metal & non-metal ores Trading Wholesale & B2B E-commerce, Food Products Retail Trading, and Duty Free Shops. Factors on which success of FDI depends on: Growth of Asset Value Preservation of Value while the asset is owned Ease of repatriating

5 What is medical tourism? Medical tourists electively travel across international borders to receive some form of medical treatment Treatments may span the full range of medical services, Most common: dental care, cosmetic surgery, elective surgery, and fertility treatment

6 Why India? India has become a popular destination for medical tourism for a variety of reasons1,2,9,10 which include: Competent and skilled doctors, nurses, and allied medical staff. Well-equipped hospitals with national and international accreditation. Availability of latest technology. Significantly lower cost of medical treatment compared to developed countries. English is widely spoken by healthcare professionals and translators are readily available for other languages.

7 India is one of the prime front-runners in the medical tourism industry. With the advent of technology, improvements in state-ofarchitecture, access to premium-grade quality instruments and knowledgeable doctors along with other healthcare professionals, and reduced costs,india has become one of the most sought-after medical destinations for medical tourists around the world.

8 The high-end healthcare system in India is as good as the best in the world.india maintains not only a robust accreditation system but also a large number of facilities (about 275 such facilities that match any global infrastructure).india has a good number (22) of JCI (Joint Commission International) accredited hospitals and compares well with other countries in Asia. These set of approved hospitals in India can provide care at par or above global standards. These set of approved hospitals in India can provide care at par or above global standards.

9 High-quality of healthcare Improved state-of architecture High-precision surgical intervention techniques Availability of top-grade quality equipment and medical instruments Affordability Better access to care or better availability The Indian healthcare industry is on an upswing- it is expected to become a 280 billion dollars industry by The rapid development of medical technologies, services and facilities in developing countries has resulted in a form of reverse globalisation, where patients from developed countries seek medical care in developing countries, for reasons including affordability, quality, and greater access to services

10 Medical Tourism is poised to be the next Indian success story after Information Technology. Medical tourism can contribute for 3-5% of the total healthcare delivery market.

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14 Ayurveda and Wellness Tourism

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17 The cost of medical services in India is almost 30% lower to that in Western countries and the cheapest in South-east Asia. Indian hospitals excel in cardiology and cardiothoracic surgery, joint replacements, transplants, cosmetic treatments,,dental care, orthopedic surgery

18 MEDICITY MEDICITY-A self-sustained healthcare hub with Super specialty hospitals of international standards Ancillary facilities Research institutions Health resort Rehabilitation centers and residential apartments.

19 Indian Medical Visa Processing time MINIMUM 5 DAYS for SA Nationals, MINIMUM 7 DAYS for Foreign Nationals Official medical letter from a medical institution in India on letterhead specifying the nature of the medical treatment to be undertaken along with duration. Official medical letter from a recognised local practitioner confirming applicant s medical condition as well as referral letter to a medical centre in India. In the case of an attendant the above requirements will apply and all medical documents must mention the applicant accompanying the patient as an official medical attendant. For further information please contact commerce desk commerce@cgidbn.com

20 THANK YOU