Opportunities in Importing Healthcare Products from India
With a renewed focus from the government, Healthcare has experienced a rapid change over the last decade, consequently, becoming one of India’s largest sectors in generating revenue. Moreover, it has also provided employment to a large number of people.
In India, healthcare comprises hospitals, medical infrastructure, medical devices, clinical trials, outsourcing, telemedicine, healthcare products, and medical equipment. Due to increased demand for specialized and quality healthcare facilities, the Indian healthcare industry is expected to reach US $280 billion by the end of 2022.
Indian healthcare delivery system is split into two components – public and private. The public sector has limited secondary and tertiary care institutions whereas the private has the majority of them.
Major Healthcare Centers in India
- Delhi
- Mumbai
- Hyderabad
- Kolkata
- Chennai
- Bangalore
- Ahmedabad
GOVERNMENT INITIATIVES
The Indian government has taken some initiatives for improving the healthcare industry which is as follows:
- In Union 2022-2023
- Human Resources for Health and Medical Education were allotted Rs. 7,500 crores (US$ 982.91 million).
- Pradhan Mantri Arogya Yojana (AB-PMJAY) Ayushman Bharat was allotted Rs. 6,412 crores (US$ 840.32 million).
- The Indian Government approved the continuation of ‘The National Health Mission with a budget of Rs. 37,000 crores (US$ 4.85 billion)
- Rs. 5,156 crores (US$ 675.72 million) was allocated to the newly announced PM-ABHIM to strengthen India’s health infrastructure and improve the country’s primary, secondary and tertiary care services.
- Rs. 86,200.65 crores (US$ 11.28 billion) was allocated to the Ministry of Health and Family Welfare (MoHFW).
- National Health Mission was allotted Rs. 37,000 crores (US$ 4.84 billion).
- Pradhan Mantri Swasthya Suraksha Yojana (PMSSY) was allocated Rs. 10,000 crores (US$ 1.31 billion).
- In July 2022, the World Bank approved a US$ 1 billion loan for India's Pradhan Mantri-Ayushman Bharat Health Infrastructure Mission.
- In July 2021, the Union Cabinet approved the MoU between India and Denmark on cooperation in health and medicine.
This proves that the Indian Government has actually done a lot for the sustainability of their healthcare sector and I am sure that their products will be worth buying.
Medical Equipment
The medical device industry is a very attractive export sector for US firms, which account for one-quarter of exports in India. Nearly 70% of indigenous production of total medical devices are exported by India such as cancer diagnostics, medical imaging, and ultrasonic scans, etc.
Is healthcare a stable industry?
Our results conclude that the healthcare sector is stable across past business cycles. When other areas experience severe economic downturns, healthcare employment increases.
How healthcare business would be profitable for importers?
- Demand for your products
“Health is wealth” I am sure that everyone would have heard this proverb.
It means that if you are healthy, then you have the greatest wealth on this earth. People always need healthcare which clearly means that your products will always be in demand.
- Vast Supplier Network
Most people assume that you have to have the good medical knowledge to start a healthcare business but it is not true. You only need to hire a good and experienced consultant and then just expand your supplier network. In fact, your company only have to focus on sales and marketing.
- Sign a contract with Government departments
As government departments are running various healthcare services so this can be a golden opportunity in setting up your client base. Once you become an approved contractor, you’ll have the option to bid as a private company. Doing so, you will get access to long-term contracts.
- Make a difference
Healthcare is an industry that provides a large number of employment opportunities to both-educated and uneducated people. Therefore you are playing a positive role by ensuring that everyone has access to healthcare. Though very minor at least you made a difference in this world.
- Low capital needed to start
If you are thinking of start-up a business that does not require large capital, a healthcare company would be a great option. It can be started with limited resources and a minimal budget. It means that you have the potential to launch a successful healthcare company if you choose to. We may start with...
- Surgical Scissors.
- Surgical Trays.
- Surgical Forceps & Clamps.
- Biopsy Instruments.
- Speculum.
- Dilator & Curette.
- Surgical Saw.
- Other surgical Instruments.
How do import healthcare products from India?
- Follow the rules and mind the laws for importing from India.
- Choose the right Indian supplier.
- Focus on the sales contracts.
- Choose how you will transport internationally.
- Consult Barai Overseas
There is no doubt that the Import-Export industry is the most profitable industry in the world. And it requires some knowledge and experience to start a company. But don’t worry if you don’t have that much time, there is another way. You can become a member of our website. https://exportimport.guru/
Enjoy affordable fees, more sales, value-added services, and uncompromised support via Whatsapp as your contact would be saved as "PRO". KINDLY WHATSAPP them ON +91 8128111191 TO JOIN NOW!