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Industry experts outline critical reforms for resilient, inclusive healthcare & pharma sector in Union Budget 2025-26

Shardul Nautiyal, Mumbai
Friday, January 17, 2025, 08:00 Hrs  [IST]

From investments in infrastructure and technology to policy reforms, healthcare leaders and industry stakeholders have shared their collective insights and outlined a transformative roadmap for India's growth story in pharma and healthcare systems. As India gears up for the Union Budget 2025-26, their expectations and solutions are poised to address critical gaps in both the booming sectors.

Dr Vivek Desai, founder & managing director, HOSMAC highlights the need for robust investments in healthcare infrastructure. He suggests introducing a dedicated Healthcare Capex Fund with flexible loan terms to incentivize private sector participation. Rationalizing GST to allow input tax credits for hospitals and lowering customs duties on high-cost medical equipment are also key priorities to alleviate financial pressures and improve access to advanced technologies. Addressing hospital bed shortages, skill deficits, and insurance streamlining are critical steps towards equity and resilience in healthcare.

Mudit Dandwate, CEO & co-founder, Dozee envisions India as a global leader in health AI. He advocates for expanding the production linked incentive (PLI) scheme in pharma and healthcare, fostering public-private partnerships, and establishing AI innovation hubs to advance healthcare digitization. By standardizing GST rates for medical devices and increasing customs duties on non-essential imports, the government can boost indigenous innovation. Dandwate also highlights the potential of medical tourism to position India as a premier global healthcare destination.

Jasdeep Singh, Group CEO, CARE Hospitals calls for a higher allocation for public healthcare, particularly in rural areas. Expanding Ayushman Bharat to cover outpatient services and preventive programs is vital to combating rising disease burdens. He also emphasizes reducing customs duties on life-saving equipment like LINACs and revising outdated reimbursement rates under government schemes. Promoting medical tourism and incentivizing MedTech innovation are essential for global competitiveness and value-based care.

Dr Sameer Bhati, director, Star Imaging and Path Lab Pvt. Ltd. underscores the importance of diagnostics in early disease management. With 66% of diagnostic facilities concentrated in urban areas, he urges increased investment in rural healthcare. Supporting AI-driven diagnostics and gene-based testing, along with tax breaks on diagnostic services, can improve affordability and access. Strengthening research funding, currently at just 0.7% of GDP, is critical to advancing transformative healthcare technologies.

Vikram Vuppala, founder & CEO, NephroPlus states that in order to address the urgent need for dialysis care, there is a need for increased funding for the PM National Dialysis Programme (PMNDP) to enhance access. Tax incentives for healthcare service exports and support for R&D in innovative services can position India as a global healthcare leader, in line with the "Vishwaguru" vision.

Sushant Roy, co-founder, COO & CBO, Alyve Health emphasizes the role of comprehensive health plans in proactive care. He advocates for strengthening digital health infrastructure, standardizing annual health assessments, and leveraging technology to bridge healthcare disparities in underserved regions. Expanding access to expert consultations and health education can empower citizens and reduce long-term costs.

Experts recommend key takeaways for the Union Budget 2025-26 like Healthcare Capex Fund to encourage private sector investments in infrastructure, rationalized GST and Customs Duties to enable input tax credits and affordable access to life-saving equipment, boosting R&D to increase investments in MedTech, AI, and diagnostics, expanded healthcare access to strengthen rural healthcare and preventive care programmes, promoting Medical Tourism to position India as a global healthcare destination, support for Dialysis Services to increase funding under PMNDP for greater access.

 

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