The program aims to support states in developing large-scale, integrated healthcare centers designed to attract international patients while strengthening domestic healthcare capacity.
These hubs are seen as end-to-end healthcare ecosystems, combining advanced hospital infrastructure, diagnostics, post-treatment and rehabilitation services with AYUSH systems in a single framework. Besides improving India’s global position in healthcare and foreign exchange inflows, the initiative is also expected to create broad employment opportunities for doctors, nurses, paramedics, technicians and support staff, positioning healthcare as a key driver of both economic growth and job creation.
Axis Direct had expected the government to consider a tax exemption of up to fifteen years for newly established medical tourism-oriented hospitals, along with ten years of tax relief for existing hospitals undertaking reinvestment and expansion. In addition, an incentive could be introduced that would allow 50% of infrastructure investments for new hospitals with more than 100 beds as additional tax deductions.
On the biopharmaceutical front, Sitharaman announced a major move to position India as a global manufacturing hub for biopharmaceuticals, citing a sharp shift in the country’s disease burden towards non-communicable diseases such as diabetes, cancer and autoimmune diseases.
Addressing Parliament during her budget speech, Sitharaman said biological medicines are crucial for improving longevity and quality of life, while also remaining affordable. To this end, she proposed the ‘Biopharma Shakti’ initiative, with a total outlay of Rs 10,000 crore over the next five years, aimed at strengthening domestic manufacturing of biologics and biosimilars. (Disclaimer: Recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of The Economic Times)
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