March 5, 2024
Healthcare industry majors from the US are looking to make inroads into India
This is expected to give a big fillip to healthcare in India, with investments coming into the country from across the world
The US is the prime importer of India’s products accounting for US$ 78.5 billion in fiscal year 2022-23
India and the US are working towards alleviating chokepoints like intellectual property (IP) rights, processes associated with customs clearances and other such challenges
The chairman of US-based investment bank Aaron Capital, David Wolfe, mentioned in his recent lecture at a domestic university that healthcare industry majors from the US are looking to make inroads into India. Although he did not mention the names of any of these companies, he did state that one of these marques is poised to make an official statement to this effect in the near future.
This is expected to give a big fillip to healthcare in India, with investments coming into the country from across the world.
David Wolfe also stated that India and the US are working efficiently towards alleviating chokepoints like IP rights, processes associated with customs clearances and other such challenges that have been responsible for slowing down seamless trade between the two countries.
While the US is the prime importer of India’s products, amounting to US$ 78.5 billion in fiscal year 2022-23, the former is the third largest exporter to the latter, with a value of US$ 50.2 billion in the same period.
Many initiatives have been attributed towards facilitating trade growth between the two nations. Some of these include the formation of the India-US CEO’s Forum and the financial and economic collaboration between ministers of both countries.
Source: Times of India