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Expectations-Union Budget 2024, Philips India

India has made rapid strides in the adoption of digital technologies in healthcare in the wake of Covid 19 pandemic. We have built on those foundations and taken steps that will provide tier-2 and 3 cities with access to quality healthcare through technology interventions. Greater investments in healthcare, as a percentage of GDP, will not only lower the cost of access to care but will also strengthen collaborations between the public and private players. The healthcare manufacturing ecosystem in India has also witnessed good advances as a result of the Government’s schemes such as PLI. Building on similar initiatives, we see potential for India to become a part of global healthcare landscape through the Government’s support in setting up Research & Development, Component and Software Development centres in the country. We look forward to these measures that will strengthen the healthcare outlook as we anticipate the 2024 Budget.

The author is Daniel Mazon, Vice Chairman & Managing Director, Philips Indian Subcontinent.

MB Bureau

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