In order for India to compete with other developing nations in terms of its productivity, it needs to be backed by a strong labour force that is healthy.
According to data from the World Health Organization (WHO), India carries 20% of the world’s disease burden. About 75% of deaths globally are caused by communicable diseases, of which India accounts for 17%. A report published by Oxfam, a British charity highlights that India records the highest number of maternal deaths in the world. On the other hand, India is the third largest manufacturer of pharmaceuticals and according to PricewaterhouseCoopers (PwC) India’s monthly internal report for June 2015, it has the largest number of medical schools globally (381) and produces the most medical graduates each year (50,000).
Hence, we can see that there exists a clear dichotomy. The reason for this being that India lacks the financial resources required to reinforce its deficient healthcare infrastructure through the length and breadth across its territory and to improve its health indicators. The resources mobilized, both public and private, for the health of the nation isn’t sufficient to keep up with rapidly growing population that exceeds a billion. Consequently, two-thirds of our population is based out of rural hinterlands where mobility and access to healthcare facilities is close to nil and paying capacity for such services is limited.
Furthermore, India spends 1.4% of its GDP on health. This has a trickle down effect that is reflected in inadequate infrastructure, limited medical technology as well as inadequate human resources in the healthcare continuum.” This disequilibrium between the resources allocated for healthcare in India and its increasing demand by an ever-growing population has led to a skewed access to healthcare in the country.
In order to reach equilibrium in the health sector in India, we need a proactive approach with the support of the industry, government and the civil society. This proactive approach can be made possible by dynamic collaborations by the CSR initiatives of corporates. In order to leverage such cross-border partnerships, we have for you the Magic 7 CSR Summit 2017.