As the Indian government readies for the unveiling of Budget 2025 on February 1, the healthcare sector eagerly anticipates policies that promote preventive healthcare, innovation, and affordability. With the sector facing increasing challenges, stakeholders are calling for measures that prioritize public health, reduce costs, and drive technological advancements to ensure that healthcare becomes more accessible and equitable for all.
One of the most pressing issues that healthcare professionals and industry leaders are emphasizing is the urgent need to prioritize preventive healthcare. As lifestyle diseases such as diabetes, heart disease, and hypertension continue to rise in India, the need for prevention-based policies has never been more critical. These diseases often require long-term treatment, resulting in significant financial burdens for families and the healthcare system. Rajneesh Chopra, Managing Director of Amway India, highlighted the growing awareness around wellness and preventive healthcare, but pointed out that affordability remains a major hurdle for the masses, particularly when it comes to nutritional supplements and wellness products. To address this challenge, Chopra suggested that rationalizing the Goods and Services Tax (GST) on health and wellness products, including dietary supplements, could lead to more affordable solutions and encourage the population to adopt healthier lifestyles.
A key concern for the healthcare sector is the need for expanded GST exemptions and the introduction of input tax credits on dietary health products. This would significantly help in promoting a culture of wellness across the nation. The government's efforts to lower taxes on wellness products could enhance access to healthier living options for millions of Indians. Additionally, experts are calling for a reduction in taxes on medical devices and surgical inputs. Dr. Sharmila Tulpule, Founder and Director of Orthobiologix Biotech Pvt. Ltd., stressed the importance of lowering GST and customs duties on these essential healthcare items, arguing that such measures would make advanced medical procedures and life-saving interventions more affordable and accessible to a broader range of patients. By making critical medical devices and treatments less expensive, these measures could drastically improve healthcare outcomes and make India a more competitive player in the global healthcare market.
Another key aspect of the upcoming budget is the expectation that it will focus on reducing the costs of medical equipment. India has long faced the challenge of high treatment costs due to expensive imported medical devices. A reduction in import duties, along with support for domestic manufacturing, could significantly decrease the cost of treatment for patients. This would be particularly beneficial for low-income groups, who often forgo necessary treatments due to financial constraints. Dr. Jay Goyal, Senior Eye Surgeon and Director of Surya Eye Hospital, called for a reduction in taxes on medical equipment, as well as subsidies for advanced procedures related to diseases like diabetic retinopathy and glaucoma. These measures would ensure that essential treatments are accessible to those who need them most, helping prevent unnecessary suffering and long-term complications.
The healthcare sector is also looking for a substantial increase in the budgetary allocation for research and development (R&D). As healthcare technologies evolve rapidly, fostering innovation is critical to ensuring that India stays ahead of the curve in terms of medical advancements. Mr. Masaharu Morita, Founder and Program Director at NURA, emphasized the potential of AI and other advanced technologies in revolutionizing the healthcare landscape. He suggested that government policies that encourage the growth of AI-enabled healthcare companies would attract more investments, ultimately leading to greater innovation. Dr. Tulpule also underscored the importance of supporting emerging fields such as regenerative medicine, robotics, and advanced diagnostics, as these sectors have the potential to transform healthcare delivery in India. Investing in these cutting-edge technologies could position India as a global leader in medical research and innovation, offering patients better treatment options and improving overall public health outcomes.
One of the overarching goals of these proposed measures is to align with the government’s Swasth Bharat mission, which aims to improve the health and well-being of every citizen. By focusing on prevention, affordable treatment, and technological innovation, the government can ensure that healthcare becomes a universal right, rather than a privilege for the few. If implemented effectively, the Budget 2025 could drastically change the healthcare landscape in India, making it more sustainable and accessible to all segments of society.
Furthermore, these changes could also strengthen India’s position as a global hub for medical innovation. As the country’s healthcare system modernizes and adapts to new challenges, it has the opportunity to not only serve its own population but also export healthcare solutions and technologies to other countries. In this way, the policies set forth in the upcoming budget could have far-reaching implications, positioning India as a leader in both public health and the global medical technology market.
Overall, the healthcare sector is hopeful that Budget 2025 will address the critical challenges it faces, ensuring that healthcare services become more affordable, accessible, and innovative. With a focus on prevention, affordability, and technological advancement, the budget could pave the way for a healthier and more resilient India, benefiting both its citizens and its healthcare providers.
