Exhibitions and Business Events Blog

With growing number of private hospitals offering the best of medical services in the world, India has been evolving as a big mart for medical tourism business, which is reportedly growing at the rate of 30 per cent each year.

India is known to offer quality and cheap health care services to foreign tourists. As per the study carried out by Confederation of Indian Industry (CII), the Indian medical tourism industry will become a $2.3 billion business by 2012. In 2007, India treated nearly 450,000 foreign patients, thereby bagging the second position in the medical tourism realm.

India is in the process of becoming a Big Mart for Medical Tourism owing to the following advantages:

* Indian medical services cost 30% less as compared to Western countries and they are considered to be the cheapest in South-east Asia.

*India has large number of English speaking doctors, nurses, guides and medical staff. This makes it easier for foreigners to communicate with the Indian doctors.

* Indian hospitals do extremely well in cardiology and cardiothoracic surgery, transplants, joint replacements, dental care, cosmetic treatments, Orthopaedic surgery and more.

* The medical services in India comprise, full body pathology, comprehensive physical and gynecological examinations, audiometry, spirometry, Chest X-ray, 12 lead ECG, 2D echo Colour Doppler, gold standard DXA bone densitometry, body fat analysis, coronary risk markers, cancer risk markers, high strength MRI etc.

* All medical treatments are carried out using the latest, technologically advanced diagnostic equipments.

* Indian doctors have achieved excellence in performing successful cardiac surgeries, bone marrow transplants, liver transplants, orthopedic surgeries and other medical treatments.

* The expenditure incurred for Infertility treatments in India is almost 1/4th of that in developed nations. The accessibility to modern reproductive techniques, such as IVF, and an array of Assisted Reproductive Technology (ART) services have made India an infertility treatment hub.

Medical Consultation and Surgery

India is the looked upon as the ideal medical destination for surgery and treatment, because of the numerous government hospitals and private tertiary care medical institutions with International JCI (Join Commission International) Accreditation. Most of these hospitals rank among the best in the world. They are well-equipped with the most modern and sophisticated technologies. The panel of internationally trained Consultants and Surgeons in India, backed by specialist medical teams, ensure total patient care with high success rates. The best thing being the cost of Medical consultation and surgeries is very affordable. The most important surgeries which foreigners prefer to carry out in India are listed below:

Infertility Treatments

Heart/Cardio Surgeries

Cosmetic Treatments

Eye Care

Dental Care

Orthopedic Surgeries

Organ Transplants

India a big mart for alternate system of medicines like ayurveda

Ayurveda

Ayurveda is the oldest form of medicine, and lore has it that its guiding principles were scripted by Hindu Gods, and written texts available date back to 3500 years. This probably makes it the earliest medical science available that believes in the blending of physical, mental, social, moral and spiritual welfare. India has been proactively propagating its usefulness via various global networks. Consequently, many foreign companies have started realizing the effectiveness of this science. People from U.S.A., U.K., Russia, Germany, South Africa, Hungary and other parts of the world visit India to get treated by Indian Ayurveda experts.

The exports of Gem and jewelry seem to be back on track. Gold jewelry exports in May recorded a growth of 158 per cent at Rs 3,911 crore against Rs 1,513 crore in April. 

Cut and polished diamond, exports increased by 18 per cent to Rs 4,528.76 crore (Rs 3,847 crore) in May.

Total exports including coloured gemstones and rough diamonds increased by 55 per cent at Rs 8,887 crore (Rs 5,749 crore).

India is rising as the world’s largest trading centre and B2B platform of gold, gems and jewelry selling offers aiming US$ 16 billion by 2010. The industry has a rich resource pool of skilled manpower for designing and producing high volumes of fine jewelry at low costs.

Diamonds made-in-India

Only few Indians are aware of the fact that India has the largest diamond cutting and polishing centre in the world. Simply put, 9 of the 10 diamonds sold world over is cut and polished in India. In 2007-08, India exported cut and polished diamonds worth US$14.18 billion in 2007-08.

Booming Retail Sector

The Indian gems and jewelry sector so far, was an unorganized sector. However, with new age customer becoming more brand conscious and quality conscious as well, the demand for branded jewelry is gaining fresh impetus. As per Mckinsey report, the demand for branded jewelry will be worth US$ 2.2 billion by 2010.

Also, the government has permitted 51 percent FDI in single brand retail outlets, alluring both global and local players to this sector.

As per the report published by Technopak Advisors on the Changing Retail Landscape in India, the jewelry and watches market is worth US$ 13.70 billion. And it is estimated to register a 12 per cent growth by 2012, reaching US$ 23.60 billion.

The World Gold Council recently informed that the size of India’s gold coin market is worth US$ 2.11 billion.

In an attempt, to enhance the demand during recession, jewelers are introducing novel designs in light weight jewelry.

India Gems and Jewelry Exports

As per the figures released by the Gem & Jewelry Export Promotion Council (GJEPC), the exports of gems and jewelry, registered a growth of 1.45 per cent during 2008-09, driven by gold jewelry exports. This includes medallions and ornaments. In 2007-08, the country exported gems and jewelry worth US$ 20.8 billion.

Gems and jewelry amounting to US$ 17.79 billion was exported during April 2008 to February 2009. Notably, rough diamond exports stood at US$ 712.09 million, an increase of 43 per cent over the corresponding period previous year.

The United Arab Emirates (UAE) was the largest importer of gems and jewelry made-in-India in 2008-09; this was followed by Hong Kong and the US. Of the India’s total merchandise exports, the gems and jewelry made-in-india accounted for 13 per cent.

The export industry mainly consists of small-to-large units set up in various special economic zones (SEZs) delivering diamond-studded jewelry.

Government schemes for export promotion

The Indian government has introduced favorable foreign trade policies to boost the booming gems and jewelry industry of India

* Foreign direct investment (FDI) up to 100% is allowed in gems and jewelry through the automatic route

* The government has reduced import duty on platinum and has exempted coloured precious gems stones from customs duty.

* Import of Rough, semi-precious stones are duty-free.

* Import of Metals other than gold and platinum are duty-free up to 2 per cent of freight on board (f.o.b) value of exports.

* Rejected jewelry imported is duty-free up to 2 per cent of f.o.b value of exports.

* Establishing of SEZs and gems and jewelry parks to boost investment in the sector.

* In May 2007, the import duty on polished diamonds, abolished.

* The government has raised the limit value of jewelry parcels for export through foreign post office (including via speed post) from US$ 50,000 to US$ 75,000

• The export of coloured gemstones on a batch basis has been permitted.

Old is gold, they say. This cliché perfectly suits our Indian textile and apparel industry. One of the oldest yet counted among the top most sectors of the country; the industry has evolved into being one of the largest foreign exchange earning sectors of the country.

Today, the Indian textile and apparel sector accounts for around 4 per cent of the gross domestic product (GDP), 14 per cent of industrial production and more than 13% of the country’s total export earnings. In fact, the sector is witnessing unprecedented growth, providing employment opportunities to more than 35 million people.

The Indian textile industry is projected to be about US$ 52 billion and probably may reach US$ 115 billion by 2012. The local market may too receive a boost; from US$ 34.6 billion it may probably register US$ 60 billion by 2012. In fact, India’s exports probably will increase from 4% to 7 % in the upcoming years.

India’s textile exports have climbed up from US$ 19.14 billion in 2006-07 to US$ 22.13 billion in 2007-08, clocking a growth rate of over 15 per cent.

Textiles and Apparels, Made-in-India Export Figures

As per the data released by Ministry of Textiles, textiles worth US$ 15.27 billion were exported by India during April-December 2008.

Textiles, handlooms and handicrafts made-in-India are exported to over 100 countries. In fact, US have become the largest buyer of Indian textiles and apparels. Readymade garments (RMG) made-in-India form almost 41% of total Indian textile exports. RMG exports were worth US$ 9.06 billion in 2007-08. During April 2008-February 2009, RMG exports reached a figure of US$ 8.59 billion, an increase of 4.86 per cent over the corresponding period of 2007-08.

Also, apparel has grown into the second largest retail category in the country. Interestingly, the local apparel retailing industry is reportedly around US$ 2.7 billion and despite recession it is likely to grow at 5-7% in 2009-10.

Textile and Apparel Sourcing

India is fast emerging as the global textile and apparel-sourcing hub with its massive multi-fiber raw material base, well set production base, design competency and expert labour force.

According to the Confederation of Indian Industry-Ernst & Young Textiles and Apparel Report 2007, the Indian sourcing market is projected to grow at an annual average rate of 12 per cent from an estimated market size of US$ 22 billion-US$ 25 billion in 2008 to US$ 35 billion-US$ 37 billion by 2011.

Also, world’s renowned fashion brands such as Hugo Boss, Diesel and Liz Claiborne are increasing their sourcing from India.

Government schemes to boost the textile exports

In an attempt to increase India’s share in the world textile market, the government of India has launched a number of crucial schemes like:

• 100% FDI flow via the automatic route.

• De-reservation of readymade garments from the small-scale industries sector in 2000.

• In February 2000, Technology Mission on Cotton was introduced to ensure that quality raw material available at competitive prices.

• In 1999, Technology Upgradation Fund Scheme (TUFS) was launched to assist upgradation of the textiles industry. Now seeing its popularity it has been given further extension till 2011-12. A total of 18773 applications at a project cost of US$ 24.91 billion have been sanctioned under TUFS upto March 31, 2008.

• 40 textile parks are being established under the Scheme for Integrated Textile Parks (SITP) which will bring in investment worth US$ 4.38 billion.