With the onset of covid-19 and its crippling effects, the healthcare sector was devastated with every twist and turn. We have seen a mirror telling us about the reality of healthcare facility, which needs to be strengthened. Healthcare has become one of India's largest sectors - both in terms of revenue and employment. It comprises hospitals, medical devices, clinical trials, outsourcing, telemedicine, medical tourism, health insurance, and medical equipment. The Indian healthcare sector is increasing due to its strengthening coverage, services, and increasing expenditure by public and private players.
The union budget proposal stated that Rs 64,180 crore would be allotted to the new national health program, the Atmanirbhar Swasth Bharat Yojana would improve the country's primary, secondary, and tertiary healthcare systems. In addition to the National Health Mission, this will help fund both urban and rural health centers.
The National Rural Health Mission has a declared policy of promoting 'Pluralistic Healthcare' by involving the AYUSH systems alongside the allopathic system, including local health traditions in its operational mission.
By 2022, the Indian healthcare market is predicted to grow to $372 billion.
The National Digital Health Blueprint has the potential to unlock nearly $200 billion in incremental economic value for the health sector over the next ten years.
100% FDI in the healthcare sector in India is allowed under the automatic route for green-field projects.
100% FDI in medical devices for investments in brown-field projects is permitted under the government route.