Hotline: 1800 102 2007
Hotline: 1800 102 2007
Search Business Opportunities
Partnership 2015-01-13

Australian healthcare firms keen to collaborate with Indian businesses

According to the latest IBEF's sectoral report, the Indian healthcare industry size is expected to touch $160 billion by 2017 and $280 billion by 2020.

Australian healthcare firms keen to collaborate with Indian businesses

Eyeing the growing healthcare industry in India, Australian healthcare firms are looking to enter into partnerships with various Indian companies in the sector and offer expertise, especially in the area of care for the aged, says a PTI report.

According to the latest IBEF (Indian Brand Equity Foundation) sectoral report, the Indian healthcare industry size is expected to touch $160 billion by 2017 and $280 billion by 2020 from the present $50 billion on the back of increased population growth in India's low income communities.

A 25-member Australian Health and Assisted Living delegation is in India to share experiences and develop partnerships with their Indian counterparts. Currently in Delhi, the delegation will soon visit Mumbai and Pune as part of Australia Business Week in India (ABWI) from January 12-16, 2015.

"The delegation is meeting with India's leading hospital and healthcare providers, developers of retirement communities and senior Government of India officials with responsibility for health with the objective of learning about India's broader health, aged care and assisted living priorities and to see where they might be able to contribute through partnerships," said Patrick Kearins, Trade Commissioner and leader of the delegation.

As one of India's largest sectors, both in terms of revenue and employment, the healthcare industry is expected to witness a high growth rate due to the ever growing population, increasing government expenditure on health and growing per capita income. Moreover, changing demographics will also contribute to greater healthcare spending, which is likely to continue with the size of the elderly population set to rise from the current 96 million to about 168 million by 2026.

Expressing her views on the positioning of Australian companies to share their expertise and products with countries like India, Nicola Watkinson, Australian Trade Commission's Senior Trade and Investment Commissioner for South Asia, said, "Australia's healthcare and assisted living (also known as aged care) industries are known for world-leading technology, innovation, professional skills, and advanced research and development and Australian companies are well-positioned to help countries looking to support their ageing population."

India is Australia's 11th largest trading partner with two-way trade of AUD 15.2 billion and fifth largest export market, with total exports of AUD 11.4 billion. Total Indian investment in Australia is near AUD 11 billion (up from AUD 600 million in 2006), while total Australian investment in India is over AUD 6.5 billion, the statement said.

Comment
image
image
image
image
Related opportunities
  • Quick Service Restaurants
    About Us: Biryani queen is a unique & Conceptualized QSR brand,..
    Locations looking for expansion Delhi
    Establishment year 2014
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater New delhi Delhi
  • Kids & Infant Products
    About Us: Smartspeak is a technological innovation by TransLife Pvt.Ltd, Established..
    Locations looking for expansion New Delhi
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Delhi New Delhi
  • Juices / Smoothies / Dairy parlors
    About Us: The Juice Art, a venture of Sonaya Foodworks, is..
    Locations looking for expansion Delhi
    Establishment year 1982
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Quick Service Restaurants
    THE BURGERS NATION – brings the golden opportunity to start..
    Locations looking for expansion Haryana
    Establishment year 2015
    Franchising Launch Date 2017
    Investment size Rs. 5lac - 10lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Gurgaon Haryana
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities
More Stories

Free Advice - Ask Our Experts