Perspectives on Indian Pharma Industry
Dr Naresh Trehan Perspectives on Indian Pharma Industry & Brand India
The Emerging Global Healthcare Hub
I believe that Brand India stands for the following values:
- Perseverance and
Today's India is on the threshold of a significant transformation. It is the commitment of our businesses, government and people to deliver on the expectations that are helping our economy grow and transform. The perseverance shown by our entrepreneurs and youth to overcome multiple challenges is another characteristic of the new Brand India. No longer are we willing to settle for second best. We are dedicated towards working to become world leaders in our respective fields. Finally, innovation has become the new mantra of our economy and industry. We are creating new innovations across products, processes and sectors, which are helping reduce costs and enhance efficiencies.
According to me, the key drivers of Brand India are based on the following factors:
- A new can-do attitude of confidence
- A focus on harnessing the power of our youth
- Developing deeper connections with the rest of the world
Our confidence has seen a significant transformation, especially in the last 10-15 years. We now believe we can compete with the world's best in anything and this attitude will continue to strengthen us. We need to ensure that our burgeoning youth population receives significant support in developing their talent. Both the government and the private sector need to work together to harness our demographic dividend. Our bridges with the rest of the world will also strengthen over the next 10 years. We are now developing services and offerings that are drawing more attention to India and are encouraging foreigners to visit India. These connections will become more robust and deepen India's integration with the rest of the world, thus strengthening Brand India.
There are quite a few factors that contribute towards the success and growth of medical tourism in India. An overburdened health infrastructure and high costs in the West act as important drivers for patients to look at India for healthcare solutions. The healthcare systems in Europe and the US are facing multiple challenges, including long waiting lists for patients and significant numbers of uninsured patients, who are unable to obtain affordable, quality care. Furthermore, the shortage of paramedical professionals, such as nurses has aggravated the situation. Patients from across the world are now regularly visiting India, as many of their insurance companies have tied-up with private Indian hospital chains.
Indian healthcare provides high end, cutting-edge technology and a state-of-the-art infrastructure. We are able to pool medical intelligentsia, Language interpreters and personalised medical care at one tenth of the cost, compared to the West. India has been seeing many patients from countries in Africa, Eastern Europe and the Middle East as well. We are truly emerging as a global destination for quality and affordable healthcare.
- Naresh Trehan
Dr Naresh Trehan
Chairman & Managing Director, Global Health Private Limited
Chairman, CII National Committee on Healthcare &
President, Indian Healthcare Federation
Dr Naresh Trehan, the founder of Medanta-The Medicity, is currently the CMD of Global Health Private Limited. After training in general surgery and subsequently cardiac surgery at premier institutions in the U.S. (NYU Medical Centre), he held important academic and clinical positions at the New York University Medical Center, Bellevue Hospital of the city of New York and Veterans Administration Hospital (Manhattan), U.S.A. His pioneering work in the field of coronary artery bypass surgery was at the New York University Medical Centre, New York, USA.
In 1988, despite a successful career in United States he returned to India and started Escorts Heart Institute and Research Centre - a pioneering state-of-the-art heart institute in India. Within a short period this Centre became an important landmark globally in cardiac surgery and cardiology, with the successful completion of over 48,000 open heart surgeries.
Dr Trehan left Escorts in 2007 to give shape to his dream project Medanta - The Medicity, a multi super-specialty hospital located in Delhi's NCR region, Gurgaon. Spread over 45 acres, Medanta is a 1500 bed hospital with 45 operating theatres which will cater to over 20 super-specialties. Medanta aims to match the standards of clinical care, research and education offered by the likes of Mayo/Harvard and Cleveland Clinics, while making treatments affordable.
Besides clinical work Dr Trehan has taken keen interest in training, education and research programmes. He is giving post doctoral training of international standard to 30 surgeons at any point of time. The training is of 3 years duration. Over 20 surgeons have already been trained so far. Dr Trehan has also presented a number of scientific papers and chaired scientific sessions in national and international conferences in USA, UK, Japan, China, Israel and Far East countries.