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ANOTHER SUNRISE SECTOR !. Or ! The sunrise sector !. The Economy. Economic Reforms since 90s :- focused on Liberalization Globalization Privatization Economy Shifted from Socialist command to capitalist market Since 2005 FDI stake. The Economy. 100% FDI allowed in – Housing

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ANOTHER SUNRISE SECTOR !

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Another sunrise sector

ANOTHER SUNRISE SECTOR !

Or

! The sunrise sector !


The economy

The Economy

  • Economic Reforms since 90s :-

    • focused on

      • Liberalization

      • Globalization

      • Privatization

    • Economy Shifted from

      • Socialist command to capitalist market

        Since 2005 FDI stake


The economy1

The Economy

  • 100% FDI allowed in –

    • Housing

    • Commercial enterprises

    • Hospitals

    • Educational Institutions

    • City & regional level infrastructure


The economy2

The Economy

  • 100% FDI allowed in –

    • Housing

    • Commercial enterprises

    • Hospitals

    • Educational Institutions

    • City & regional level infrastructure


The effects

The effects

  • GDP

    2005

    • $604 billion

    • Accounting for 6.3% share of world income

    • Fourth largest in terms of real GDP

      2010

    • $929 billion

      BUT


The effect

The Effect

2008

  • GDP crossed $ 1 trillion

    FORECAST

    Gdp Growth at 7 – 7.5%

    $27 TRILLION BY 2050


Barriers to growth

Barriers to Growth

  • Inflation

  • Global Recession

  • Resource crunch

  • Environmental effects

  • Improper utilization

  • Diminishing returns to capital ( i.e. a point when increase in capital will not result in economic growth) – “ steady state ”


The solution

The Solution !

  • Overcome “ steady state” and continue growing by inventing new technology and/ or “new capital”.

    HOW ?


But first

BUT FIRST !


The health sector

The health sector

  • Contribution of health sector to Indian Economy :-

    • Highest year on year growth of 42% in earnings (2007) due to

      • Availability of high quality care

      • Rise in number of patients visiting India

  • One of the largest service industries employing > 4 million workers


The health sector1

The health sector

  • Health care spending will double in next 10 years

  • Private health care spending - $ 15 billion

    $ 34 billion by 2012

    $ 42 billion if health insurance made available to rich and middle class

  • Voluntary health insurance market( $2.8 billion) growing at 30% p.a.


The health sector2

The health sector

  • With expected rise in pharma, insurance & medical devices market, the total health care market will rise from :-

    • Rs 1030 ($22.2) billion ( 5.2% of GDP)

      To

    • Rs 2320 – 3200 ( $ 50-90) billion (6.2 – 8.5% of GDP) by 2012


The barriers

The Barriers

  • Too many Health s

  • Lack of Resources

  • Trained Manpower shortage

  • Political interference

  • Corruption

  • Poor Infrastructure

  • Inequity in accessibility

  • Lack of health education

  • Impractical Planning

  • Lack of valid data

  • Wrong Focus/priorities

  • Social & Cultural Barriers


The barriers1

The Barriers

  • Too many Health s

  • Lack of Resources

  • Lack of health education

  • Political interference

  • Corruption

  • Poor Infrastructure

  • Inequity in accessibility

  • Trained Manpower shortage

  • Impractical Planning

  • Lack of valid data

  • Wrong Focus/priorities

  • Social & Cultural Barriers


The solution1

The Solution !

Education & Training


Determinants of economic growth

Determinants of Economic Growth

  • Quantum of labor force (LABOR CAPITAL)

  • Stock of physical capital

  • Technological changes embodied in capital goods

  • Quality of labor force

    • Extent of education

    • Level of health


The emerging skill shortage

The emerging skill shortage

POSITIVES

NEGATIVES

SHORTAGES IN TALENT SUPPLY

ONLY 10% OF GLOBAL MARKET POTENTIAL TAPPED

500,000 SHORT FALL IN SKILLED PERS BY 2010

WILL LOSE US$ 86 BILLION WITH PRESENT CAPABILITY

  • FAVORABLE DEMOGRAPHIC PROFILE – MANPOWER AVAILABILITY, CAPABILITY TO LEARN

  • KNOWLEDGE SERVICE SECTOR EMERGED AS SIGNIFICANT GROWTH ENGINE

  • INDIA’S EARLY LEAD & STRONG FUNDAMENTALS

  • IT-ITES SERVICES ALONE NEED 1000,000 PERS BY 2012


Education

EDUCATION

  • GOVT RECOGNISES :-

    • THAT

      “ EDUCATION IS THE PATHWAY TO ECONOMIC SUCCESS”

    • NEED FOR SUPPORT TO UNIVERSITIES & EDUCATIONAL INSTITUTES

    • NEED FOR 1500 MORE UNIVERSITIES

    • NEED FOR BETTER TEACHING STAFF AT ALL LEVELS WITH BETTER REWARDS & ACCOUNTABILITY

    • ‘ PUBLIC-PRIVATE PARTNERSHIP’ IN EDUCATION


The future of education

THE FUTURE OF EDUCATION

  • Development & progress in the field of education is inescapable if we are to effectively compete with powerful global economies – Dr Manmohan Singh, PM, Goa University Convocation- Dec 2007,

  • 11th Plan (2007-12) – Education centric plan

  • 19% of GDP for growth of the education sector

    The new sunrise sector !!!!!!!


The immediate need

The Immediate Need

  • Management of the health care verticals

    • By professionally trained health care managers

    • With primary managerial competencies; and

    • Thorough understanding of health care issues

      CAPACITY BUILDING


The sunrise sector

The sunrise sector

CAPACITY BUILDING

FOR THE HEALTH CARE SECTOR’S DEMAND FOR

MANAGEMENT PROFESSIONALS


The health care matrix

The Health Care Matrix

NGO

PVT HOSP

GOVT

PVT HOSP

CORPORATES

NGO

INSURANCE

GOVT

MANUFACTURING

CORPORATES

INSURANCE

MANUFACTURING

PHARMA

IT

CR

PHARMA

IT

CR


What brings it together

What brings it together?


Another sunrise sector

SCIENTIA POTENTIA EST

Sir Francis Bacon

1597 – Meditatione Sacrae


The conclusions

The Conclusions

  • Health care sector & education are the major drivers of the economy

  • For the present growth to be sustainable over a period of time demands capacity building

  • The indegenous attiudes, practices & procedures developed must be locally implementable and globally acceptable

  • Academia – industry co-operation inescapable


Some thoughts

Some thoughts

  • Our progress as a nation can be no swifter than our progress in education. The human mind is our fundamental resource.

  • A teacher affects eternity; he can never tell where his influence stops


Another sunrise sector

Thank you


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