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FDI inflow into hospitals & diagnostic centres grows 59% in April-Sept, 2023
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Gireesh Babu, New Delhi
December 18 , 2023
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The Foreign Direct Investment (FDI) equity inflow into the hospital and diagnostic centres sector in the country has witnessed a growth of 58.8 percent during the first six months of the current fiscal year, while the foreign equity infusion into the medical and surgical appliances sector grew 26 per cent during the comparable period.
The hospital and diagnostic centres in the country has attracted a foreign equity fund infusion of $754.8 million during the April to September of 2023, as compared to $475.31 million during the same period of previous year.
It may be noted that the sector witnessed a foreign fund infusion of almost $600 million during the second quarter of the current fiscal year, as the FDI equity fund inflow was $154.83 million during the April to June quarter. The growth during the second quarter from July to September, 2023 as compared to the $310.83 million fund inflow in the same period of previous fiscal is around 93 per cent, according to data from the ministry of commerce and industry.
The cumulative foreign equity investment into the sector stood at $9.49 billion from April, in the year 2000 to September, 2023. The cumulative investments from April, 2000 to September, 2022 was $8.4 billion, which indicates that the sector has reported an FDI inflow of around $1.09 billion in a year from September, 2022 to the same month of 2023.
As reported earlier, the FDI infusion into the sector has registered a growth of 16.2 per cent during the fiscal year 2022-23, at $810 million fund infusion, as compared to $697 million inflow reported in 2021-22. The cumulative FDI equity inflow into the sector stood at $8.73 billion from April, 2000 to the end of March, 2023, growing from $7.92 billion reported at the end of March, 2022.
The medical and surgical appliances sector registered a growth of 26 per cent in FDI equity infusion during the six months from April to September, 2023, at $424.33 million as compared to $337.03 million during the same period of last fiscal year.
The quarter ended September, 2023 registered a significant multifold growth at $124.3 million as compared to the $31.69 million fund inflow reported during the same quarter of last fiscal year. However, the fund inflow during the quarter was almost 58.6 per cent low compared to the $300.03 million registered during the previous quarter of April to June, 2023.
The cumulative FDI infusion into the sector from April, 2000 to September, 2023, according to the data from the ministry of commerce and industry, is at $3.23 billion, as compared to $2.74 billion reported from April, 2000 to September, 2022.
The sector has seen the FDI equity inflow almost doubling during the fiscal year 2022-23. The foreign investment into the sector stood at $397 million during the fiscal year, as compared to $208 million in the 12 months of previous fiscal year. The cumulative foreign investment flow from April, 2000 to March, 2023 stood at $2.80 billion, while till March, 2022, it was $2.19 billion, according to the data.
As reported earlier, the FDI equity inflow into the pharmaceutical sector has reported a decline of 83 percent in the first six months of the current fiscal year, as compared to the same period of previous year.
The decline comes after a significant growth of 45 per cent reported for the 12 month ended March, 2023, according to official data.
The FDI investments into the drugs and pharmaceuticals sector during the six months ended September, 2023, stood at $117 million, as compared to $699 million reported during April to September, 2022.
The second quarter of the fiscal year, from July to September, 2023 has recorded a $27 million FDI inflow into the sector, as compared to the $90 million during the quarter from April to June, 2023, according to data from the ministry of commerce and industry.
The cumulative FDI inflow from April 2000 to September, 2023, stood at $21.58 billion, slipping from the eight position among the sectors attracting highest FDI equity inflow in the country in the quarter ended June to ninth position by the end of September.
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