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Looking Beyond Bangladesh: Making India's Medical Value Travel Sector More Resilient

Author

Listed:
  • Nisha Taneja

    (Indian Council for Research on International Economic Relations (ICRIER))

  • Sanjana Joshi
  • Nirlipta Rath
  • Vasudha Upreti

Abstract

Medical Value Travel (MVT), commonly referred to as medical tourism has become a major contributor to India's international trade in health services and is experiencing rapid growth. India's advantage lies in high-quality medical treatment offered at affordable prices. Medical tourists avail of a range of procedures with hospitals nowadays also offering robotic surgeries and AI-driven treatments. Additionally, India is also becoming increasingly popular for alternative medications and wellness tourism, offering traditional medical care services through AYUSH (Ayurveda, Yoga & Naturopathy, Unani, Siddha, and Homeopathy). However, the recent political developments in Bangladesh and the subsequent severe impact on the MVT sector highlight the need for diversification of source markets. To make the MVT sector in India more resilient this policy brief identifies the key challenges faced by this sector and provides recommendations to address these in order to attract a wider range of foreigners to seek cost-effective and holistic health solutions in India.

Suggested Citation

  • Nisha Taneja & Sanjana Joshi & Nirlipta Rath & Vasudha Upreti, 2024. "Looking Beyond Bangladesh: Making India's Medical Value Travel Sector More Resilient," Indian Council for Research on International Economic Relations (ICRIER) Policy Paper 29, Indian Council for Research on International Economic Relations (ICRIER), New Delhi, India.
    • Handle: RePEc:bdc:ppaper:29
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    Keywords

    MVT; medical tourism; wellness; AYUSH; resilience; icrier;
    All these keywords.

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