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FDI inflow into hospitals & diagnostic centres grows 89 per cent in 2023-24
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Gireesh Babu, New Delhi
June 18 , 2024
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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 around 89 per cent during the fiscal year 2023-24, while the foreign equity infusion into the medical and surgical appliances sector grew 21.6 per cent during the financial year compared to the previous year.
The hospital and diagnostic centres in the country have attracted a foreign equity fund infusion of $1.53 billion during April, 2023 to March 2024, as compared to $809.6 million during the previous year, according to data from the ministry of commerce and industry.
The infusion into the sector has registered 86.7 per cent growth during the quarter ended March, 2024, at $446.39 million as compared to $239.09 million fund inflow in the same quarter of last year.
The growth during the fiscal year was the highest at least in the last five years, and crossed the $1 billion mark after fiscal year 2018-19 when the FDI inflow was reported at $1.04 billion. The year 2022-23 witnessed a growth of 16.07 per cent to $809.6 million, from $697.5 million in the fiscal year 2021-22. The fiscal year 2021-22 was a growth of 39.2 per cent from $501.16 million in the previous year, according to the data.
Cumulative fund infusion into the segment from the year April, 2000 to March, 2024 stood at $10.27 billion, growing from $8.74 billion till March, 2023.
The medical and surgical appliances sector registered a growth of 21.56 per cent in FDI equity infusion during the period from April, 2023 to March, 2024, at $482.83 million as compared to $397.2 million during the previous fiscal year. The quarter ended March, 2024 reported an FDI inflow of $20.41 million, as compared to $39.57 million reported during the same period of previous fiscal year, showing a decline in fund inflow.
The growth of FDI inflow was one of the lowest for the segment during the fiscal year 2023-24 in the last three fiscal years, with the year 2022-23 reporting a growth of around 91 per cent, and almost three fold growth in the year before that, at $208.05 million FDI inflow in 2021-22.
The cumulative FDI infusion into the sector from April, 2000 to March, 2024, according to the data from the ministry of commerce and industry, is at $3.29 billion, as compared to $2.80 billion reported from April, 2000 to March, 2023.
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