What will bring back momentum of growth for India post COVID-19
COVID-19 has apparently pause the world and we are continuing the fight to prevent it , trying to develop vaccine to eradicate it but due to globalization, with increased global integration and travel, urbanization, and
COVID-19 has apparently pause the world and we are continuing the fight to prevent it , trying to develop vaccine to eradicate it but due to globalization, with increased global integration and travel, urbanization, and greater exploitation of the natural environment , it has led to pandemics spread quickly. India has been caution and some were fortunately succeeded in preventing the contagious virus, its response has been most stringent in the world toward COVID-19. Activating health management system and issue travel advisories, screening all the traveler coming to India was started early in January. Well-coordinated action plan like active health laboratories and quick establishment of quarantine across the country. This could have been possible only because of wise decision taken so fare like early lockdown, restriction of mobility from other countries, pursuing contact tracing .Let’s assume that the country will take necessary precaution ahead and will flatten the curve. Don’t you think India has the better opportunity to reorder its own global commitment and become interdependent by associating with larger developing market? In post covid, India advantage can rely on becoming major provider of global public goods and services i.e. healthcare, education & tech support capacity for innovation S
COVID-19 Pandemic has stretched healthcare infrastructure of even the most developed countries, and is expected to cause economic recession unparalleled in the recent history. The COVID-19 pandemic is straining health systems worldwide. The rapid increase on health facilities and health care workers has let to overstress the healthcare system leading in difficulty. Healthcare system were not uniform in some developing countries like India. Fitch Solutions says, with 8.5 hospital beds and 8 physicians per 10,000 people, healthcare industry in India is at risk as compared to japan and South Korea have 120 to 130 beds for 10,000 beds. Even US is short of gear and test in this times. World Bank to fasten the coronavirus detection and treatment has given $1 billion loan. Expensive private medical education paid for with hefty student loans must give way to scaled-up subsidized training. We need to reverse 1:2 ratio of government versus out-of-pocket health spending will unleash purchasing power.
Pharmaceutical export of India have seen steady growth from $10 billion to $19 billion according to Indian brand equity foundation. .It also one of the leading producer of vaccine in the world. It is no surprise that India is the world largest supplier of generic drug and controls around 18 percent of global market. Cheaper pricing could be the significant reason for making it favorable to developing and developed nation both. Also 80 percent of drug antiretviral drug used to combat AIDS are supplied by India, which is noteworthy contribution
According to National Health account data 7 percent is spent on preventive healthcare and more than 80 percent is spent on treatment and cure as FY17. This cost myopia was restricted to poor and indignent but now covid has changed that as it has shown that health of each individual is important as it will impact other individual. So as the lockdown will end it will be important to demand measure for health for all.Medical tourism in India is on crowning, number of people coming to India for medical treatment has grown annually. According to Ministry of Tourism, the medical tourism space was valued at around $3 billion (US$) in 2015 and at $9 billion in 2020.
Increased use of Technology, Telemedicine, Training of primary health workers and Mobile hospitals all this should continue post COVID to make India to count itself in one of the best healthcare provider countries. Improvement and enhancement in telemedicine is significantly important as it connect rural India where 70 % of India population lives to experience advanced treatment and get cure. Let’s hope the urgency of COVID enhance our existing facilities and it stay even when COVID vanished from the world!
Power house of innovation with ecosystem of science and technology India is now wonder expanding its wing however with dwindling wings , govt measure like liquidity infusion , tax relief and other waiver is important for survival of healthcare service provider .India has an opportunity to supersize its own ingredient manufacturing to combat chinses dominance in the market . US relies on Indian Active pharmaceutical ingredient (API) range of medication , which produces around 47 % of the US supply of Hydroxychloroquine has agreed to license it stock to badly effected countries. In comparison to other countries, say, the United States, China or Eurozone, India has been both, fortunate and cautious, in preventing the contagious spread of the virus in its domestic territory with early restrictions on mobility from other countries, pursuing contact tracing, and announcing a lockdown early. It has also taken larger efforts in recent weeks to send across medical supplies and drugs (including hydroxychloroquine) to other nations in need.
Since the pandemic there has been intensive campaign on promoting hand hygiene to prevent transmission of infections, this is small routine but has reaching implication for transmission of various other infection as well. It could be said that long cycle of hygiene, face mask, hygiene social habit and social disinfection combine swachh Baharat abhiyan may have positive impact on improved health of the society.
India has effectively managing pandemic. Currently at stage 2 and getting prepared to combat stage 3 if entered is send handling the situation quite well as compared to the other developed countries like Italy and US. Second populous country, India is trying to deal the situation like many other countries but has learned its lesson and taking precaution and preventive measure at the earliest. As the world eagerly waiting or vaccine our country too is in race but whosoever win this race will benefit human mankind. It will be pleasure to see the new world, New India post COVID-19 and hope people keep the positivity and spirit same to live the life subsequently. India like many other country is fighting the deadly disease and let’s emerge victorious and fail COVID-19.