While India is one of the fastest growing economies in the world, it has one of the poorest health indicators globally, with over 75% Indians lacking access to quality healthcare. Despite this, healthcare is a high growth industry and is expected to reach US$ 372 billion by 2022.
India’s Base-of-Pyramid population has a disposable income of over US$ 358 billion. Impact entrepreneurs have responded well to this opportunity, with bottom-up and market-based innovations, contributing to SDG 3. India is one of the leading impact investment globally, with US$ 5.2 billion in cumulative investments over the last 6 years. Health is one of the leading sectors, accounting for 16% of total impact investment deals in 2016, and shows a growing trend.
Further, with India acquiring middle-income status, donors are increasingly shifting their focus from traditional aid to returnable capital to solve development challenges. The government too, through schemes like Ayushman Bharat, is increasing private sector participation by enabling a large number of enterprises to cater to the low income segment.
The private sector, donors and government have to work in collaboration, creating a holistic ecosystem for growth of impact enterprises which improve health outcomes for the poor. The session on SDG 3 will discuss the challenges and opportunities in the health sector, and the innovations and reforms required to scale impact investments and improve health outcomes.