India may be advancing as a favoured destination for medical tourism, and so is the burden of non-communicable diseases in the country. However, one industry which can make the medical services even more affordable is not being nurtured the way it should be is that of manufacturing the medical equipment indigenously. Sample this: The country is the capital of diabetes and cardiovascular diseases, glucometers and diagnostic tools like ECG machine, patient monitor and stress test systems still have to be imported.
"Every year, we import material worth Rs25,000 crore. This shows that we have not realized the importance of having manufacturing units in our own country. China, for example, has several incentives for companies which set up manufacturing units, sometimes even legally binding them to have such units on their soil. We are well developed in terms of applied sciences like pharmaceuticals, information technology, biotechnology, mechanical engineering and electronics, which will only help us grow well towards this direction," said Dr GSK Velu, founder and managing director of Trivitron Group of Companies.