The future looks bright as 5 to 6 big brands in healthcare may come to India and set up business shortly
PUNE: Some of the leading healthcare brands are planning to expand their base in India and one of these brands is on the verge of announcing a MoU in the country soon, I estimate that 5-6 healthcare brands are in the process of expanding their base in India. One of the brands is in the process of signing a MoU with an Indian partner. It is likely to be announced in the next few days, asserted David Wolff, Chairman of Aaron Capital, Inc. USA.
David Wolff was here to deliver a speech on ‘America is coming to India’ which formed part of the second annual Dr DY Patil Lecture, organized by D Y Patil International University(DYPIU), Akurdi, Pune. University Vice-Chancellor Prof. Prabhat Ranjan was present on the occasion.
Aaron Capital Inc. is a sector agnostic Global Boutique Investment Banking Firm that operates in India through its affiliate Aaron Financial Advisory India.
David Wolff said “To further smoothen their relations, India and the USA are making efforts to resolve their persisting bottlenecks,” while addressing a gathering. The healthcare sector is the one where India needs structural changes which makes a huge potential for investment by global investors and hence some of the big brands in the healthcare sector in the US are coming to India.
Prof Prabhat Ranjan, Founder Vice Chancellor of the DY Patil International University, who was heading TIFAC, the technology think-tank of the government of India before taking up his current assignment, said that the Technology Vision 2035 document, which was released by Prime Minister, Narendra Modi in 2016, had discussed at length on the topic. He mentioned that as compared to expectations in the vision document, India is lagging in the healthcare sector. India is a major importer of biomedical equipment at present. We can change the game if we can develop the same on our own, he said.
Prof Ranjan mentioned that for the first time in the country, DYPIU has started a course B Tech in semi-conductor engineering given the large growth expected in the semiconductor industry.
India and the US are making efforts to resolve their persisting bottlenecks, said David. The current impediments to bilateral relations include tariff and non-tariff barriers, complex custom clearance procedures, IPR, and data localization issues, he added.
The foundation of India-US bilateral relations rests upon several key elements, which encompass the expanding market size of the Indian economy, the increasing influence of the Indian diaspora in American business and politics, and a shared recognition of the imperative to address Chinese aggression.
As the United States deepens its involvement in the Indo-Pacific region and India consolidates its regional influence, the collaboration between these democratic powerhouses possesses the capacity to redefine the geopolitical landscape, he said.
The US accounted for 18 percent of the gross FDI inflows into India
The US accounted for 18 percent of the gross FDI inflows into India during 2021-22, ranking second behind Singapore which stood at 27 percent. Computer software and hardware; the services sector and the automobile industry attracted the maximum FDI equity inflow and Gujarat; Karnataka and Delhi are the top FDI-receiving states from the USA.
To further smoothen their relations, India and the USA are trying to resolve their persisting bottlenecks. The current impediments to bilateral relations include tariff and non-tariff barriers, complex customs clearance procedures, IPR, and data localization issues.
According to David Wolfe, “The United States is the third largest source of Foreign Direct Investment (FDI) in India with equity investment of $ 59.1 billion (April 2000 to December 2022), which represents 9.45 percent of the cumulative inflows received by India.”
The bilateral trade relationship between India and the United States has experienced a remarkable expansion over the years’ partners. The bilateral trade between the two countries has risen by 72 percent between 2017-18 and 2022-23. During 2022-23, the USA was the top destination of Indian exports to the world and the third source of India’s imports from the world. Further, India’s exports to the USA stood at $ 78.5 billion in 2022-23 and its imports from the USA were $ 50.2 billion, he said.
In 2014, the two countries also initiated the bilateral Investment Initiative, aimed at facilitating foreign direct investment, portfolio investment, capital market development, and infrastructure financing. Notably, the US-India Infrastructure Collaboration Platform in 2014 has also been established, with a focus on deploying advanced US technologies to meet India’s infrastructure requirements.
