Question No. 4 - IBO-03 - India’s Foreign Trade - Master of Commerce (M.Com)

Solutions to Assignments 

IBO-03 - India’s Foreign Trade

Master of Commerce (M.Com) - 1st Year 

Question No. 4 Write short notes: 
(a) Indian competitors in the export of electronic goods

(b) Potential of health services in India.

There exists a tremendous opportunity in the Indian healthcare industry. This is clearly borne out by the following:

- The size of the healthcare industry in India is just 5% of  the GDP, as compared to the United States, where this figure stands as high as 17%. In fact, healthcare is the largest industry in the USA.

- A study conducted by KSA Technopak, a leading global consulting firm indicates that in India, on an average, 11% of the annual household income is spent on healthcare . Not only this, 25% of the people believe that this figure is likely to go up.

- Further, the same study indicates that close to 68% of  the healthcare spending is on the day to day healthcare needs alone.

- The healthcare industry in India is expected to cross Rs.1000 billion in  the next three years.

- The Role of Consumerism 

The wave across various sectors in India has led to a more demanding consumer, whose awareness levels have risen significantly in the last few years. The consumer now has greater expectations and demands regarding the quality of healthcare.

This is especially true of the quality of primary healthcare services available in the country today. Given the backdrop of extremely high fragmentation, reliability and accessibility continue to be a distant dream. The consumer's current experience with a host of polyclinics and diagnostic centres, which have little regard for quality, has been disappointing.

Today's consumer is sensitive to both - care and cure - and is hungry for information. And he is willing to dig deeper into his pockets to get that extra reliability, reassurance and convenience.

There is only one logical conclusion to draw from all this. The healthcare industry, which is rightly perceived to be recession-proof, is set for unprecedented growth. And it offers some exciting opportunities in the area of primary and preventive healthcare.