India's healthcare sector has made impressive strides in recent years. It has transformed to a US$ 17 billion industry and is surging ahead with an annual growth rate of 13 per cent annually. Today it has grown its dimensions with new concepts like medical tourism flourishing within this industry at the growth rate of 15 per cent per annum, raking in over $2 billion as additional revenue by 2012. With corporations showing keen interest to set up large healthcare facilities across the countries, equipped with state-of-the-art technologies and expertise to back, this sector is poised to grow even further.

Delivering the keynote address on the perspective on healthcare in the country, at the 4 th Annual Service Quality Conclave, Vishal Bali, CEO, Wockhardt Hospitals Group said, "India has emerged as a global hub for healthcare and this has led to more and more doctors and clinicians looking back towards India to continue and take forward their practices. The reversal of the brain drain is not restricted to the IT field alone. We are witnessing an increased number of specialists showing interest to shift their work base back to India from countries like the UK and US. This indicates the growth of India as a leader in the healthcare industry. Infact, the head of critical care at Wockhardt's new facility in Bangalore has returned from the US."

"Deregulation, globalisation and fundamental breakthroughs in science with strategic influence of information technology are blurring geographic boundaries. New age professionals from various service sector industries are seriously looking at different opportunities that are available in the healthcare sector where they can play a vital role," Bali added.

"Globally, consumerism has become the new watchword. As more and more patients get into the self-pay category they demand more accountability in pricing, safety and quality. Transparency will be the key to success. Preventive care and disease management is the way forward to reduce cost and manage demand," he said.

"India boasts of a talent pool of over 600,000 clinical and paramedical personnel. The crucial combination of the country's globally recognized clinical talent along with tourist interest of 5000 year civilization coupled with the alternative medicine propositions in the form of ayurveda and naturopathy etc. give India an edge over neighbouring countries like Singapore and Thailand, which are also much sought after destinations for medical tourism. Available statistics suggest that Singapore, Thailand and Malaysia attracted 650,000 patients in 2004 while Thailand generated $ 280 million from 308,000 patients. In 2003 110,000 Arab patients travelled to Jordan with an average spend of $ 5500 earning a revenue of $ 600 million," Bali said.

Majority of foreign patients visit India primarily to avail of "First World Service at Third World Cost". However, for India to capitalise on the boom in medical tourism, it is imperative that the government puts together a blueprint for coordinating various industry players, which includes the policy makers, tour operators, hotels, transportation services, private hospitals, medical practitioners and private hospitals.