Healthcare is one of the largest areas of employment across India, and continues to grow in alignment with ageing populations and the creeping technologies driven by tech-savvy millennials who wish to overhaul traditional services to provide higher quality of medical treatment. Additionally, both the public and private healthcare sector are growing at an exponential rate.
With this in mind, Healthcare UK is now set to support India’s transforming healthcare systems by creating a new network of 11 Medicities. The 10-year project will become of India’s largest healthcare initiatives, which will see it partner with the National Health Service (NHS) in the United Kingdom to ensure exceptional healthcare and medical training.
Named the Indo-UK Institute of Health (IUIH), the project will transform a disjointed healthcare system, to one that is integrated and well-connected across the board, and support a developing network of primary care clinics. The first phase is now underway, with ambitions to complete by 2019.
The India Brand Equity Foundation has reported that with increased digital adoption “the Indian healthcare market, worth around US$ 100 billion, will likely grow at a CAGR of 23% to US$ 280 billion by 2020” and “the Healthcare Information Technology market is valued at US$ 1 billion currently (April 2016) and is expected to grow 1.5 times by 2020,” highlighting the country’s continued potential, with room for further growth.
To this effect, hospitals and diagnostic centres have attracted Foreign Direct Investment worth over US$4 billion between 2000 and 2017.
The NHS will support the development of each of the 11 Medicities, of which all aspects will be incorporated through new commercial contracts. In a news release, the government has stated that “this commitment by the Indian government and IUIH has already recorded over £150 million in export wins for the UK since 2015 and continues to grow.
The scale of the project signifies significant export opportunities for NHS Trusts and other healthcare services providers throughout India.”
Nagpur and Amravati will become the first two sites to be overhauled through a collaboration with Kings College Hospital, with recent foundation stone laying ceremonies undertaken
"The 1,000 bed IUIH in the city is being developed in association with UK's leading medical institute King's College Hospital. The 170-year-old King's College, for the first time in its history, has agreed upon making its centre outside UK, that too in IUIH premises in the city," commented Group MD and CEO Ajay Rajan Gupta.