1.5 lakh crores has been invested in improving the health situation in the state – Y Ratnakara Rao

Kolkata, December 13, 2024: “With annual budget exceeding 20,000 crores, in the past 10 years 1.5 lakh crores has been invested in improving the health situation in the state. And in the last 12 years number of medical colleges has seen a three-fold increase from 11 to 35 while MBBS seats have also increased from 1300 to 5000 plus” said Y Ratnakara Rao, Secretary, State Health & Family Welfare Department, at the 5th edition of The HealthMeet organised by ASSOCHAM.

Highlighting the government’s efforts toward improving healthcare, Mr. Rao said, “25 million households have been covered under the government’s flagship program Swasthya Sathi with over 2000 hospitals and clinics empanelled. 160 free diagnostics units have been opened across the state and 110 fair-priced medicine shops are providing generic medicines at 60-70 percent discounted rates. The state government is pursuing public-private partnership to provide secondary and tertiary level services to tier 2, tier 3 cities. The government is also taking a fresh look at the Clinical Establishment Act and working to make licensing structure more seamless. The ease of doing business is one part and the speed of doing business another. On the two counts, we want to have more focus and we want to come up with better policies.”
Mr Debarshi Duttagupta, Chairman, Healthcare Sub Council, Assocham Eastern Region Development Council, said, “India’s overall healthcare market, which was about $180 billion in FY 2023, is projected to grow at approximately 12% CAGR to reach roughly $320 billion by FY 2028. The pharma industry is expected to reach US$ 65 billion by 2024 and US$ 130 billion by 2030. Indian Medtech players accounted for about $2.5 billion in FY 2023, up from approximately $1.8 billion in FY 2020.”
“Eastern region of India along with North East region and neighbouring countries offers unique opportunity for hospitals, pharma companies to collaborate on research, clinical strengthening, health tourism and beyond,” he added.
HE Mr Maxim V. Kozlov, Consul General of The Russian Federation, highlighting the huge opportunity and synergy between India and Russia in the field of healthcare and pharmacy, said, “Russia and India share a long history of cooperation in healthcare, pharmaceuticals, and biotechnology. Indian companies have a significant presence in Russia, supplying generic medicine and ingredients. Our partnership holds immense potential in areas like healthcare infrastructure, telemedicine, and biotechnology. By combining our expertise, we can enhance disease prevention, improve chronic disease management, and innovate in medical research.”
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ASSOCHAM initiated its endeavour of value creation for Indian industry in 1920. It was established by promoter Chambers, representing all regions of India. Having in its fold over 400 Chambers and Trade Associations, and serving over 4.5 lakh members across India. ASSOCHAM has emerged as the fountainhead of Knowledge for Indian industry, which is all set to redefine the dynamics of growth and development in the Knowledge Based Economy. More information available on www.assocham.org