Review Article
Year: 2018 | Month: February | Volume: 8 | Issue: 2 | Pages: 258-265
‘Make In India’ For Healthcare Sector in India: A SWOT Analysis on Current Status and Future Prospects
Dr. L. Ganesan1, R. Senthamizh Veena2
1Professor & Head, 2Rajiv Gandhi National Research Fellow,Department of Economics, Bharathidasan University, Tiruchirappalli, Tamil Nadu
Corresponding Author: R. Senthamizh Veena
ABSTRACT
Make in India is a recent major Government initiative designed to transform India into a global manufacturing hub through series of regulatory and policy framework. Under this flagship campaign healthcare sector comprising hospitals, diagnostic centres, drugs and pharmaceuticals, medical devices among others have been identified as a part of the initiative. India’s healthcare system is paradoxical i.e., on the one hand, it boasts of attracting medical tourists from across the world for its quality health service at cheaper cost, and on the other, it is characterized by lack of accessible, affordable health services for a large part of its population. The government of India’s ‘Make in India’ initiative provides a platform for the private sector to explore the opportunities and provide the much needed capital for the healthcare in India. In this paper the researchers have attempted to study the various aspects of Make in India for Healthcare sector and a SWOT analysis has been made to understand the current situation and future prospects in the same. Thereby the researchers claim that while the Make in India initiative is directionally right, its impact on improving access to affordable quality healthcare depends on how the concerned Government policy is framed, developed and implemented over the period.
Key words: Make in India, Healthcare Sector, SWOT analysis, Government policy