Impact of Make in India on Healthcare Sector in India

To make India self-reliant and for making India a global leader in manufacturing, Govt of India launched ‘Make in India’ initiative in 2014. The healthcare sector comprises of hospital, pharmaceuticals, health-tech online services, medical insurance, medical devices and equipment, and medical tourism. The healthcare sector contributes significantly to the economic development by creating millions of jobs and accounts for more than 3.3% of GDP. India’s dense population is over 140 Crore and about 10% of the population is over the age of 60 years. With such a huge population base and sedentary life style, the healthcare sector is growing very fast and it promises an optimistic picture in the future. The present paper aims to understand the impact of Make in India on the healthcare sector in India. The paper revealed that India’s healthcare sector is very much dependent on imports. However, make in India initiative reduces to some extent the dependency on import by manufacturing some of the products, medicines and medical devices, but much more is required to be done.  The Govt should invest its resources through Make in India initiative in healthcare sector for not only making India self-dependent but also for contributing in export promotion and employment generation. Govt should also make reforms to strengthen the healthcare sector.

Make in India, PLI, Medical Tourism, Wellness Tourism, Health Capital of India

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