India at 75: A Remarkable Journey of Growth
As India celebrates its 75th Republic Day, it is a moment of reflection and pride for the nation. The journey from an independent nation to one of the world’s fastest-growing economies in a relatively shorter period has been remarkable. By 2027, the nation is poised to become the world’s third-largest economy, surpassing economic powerhouses like Japan and Germany, with a projected GDP exceeding US $5 trillion. Despite global disruptions, India is expected to sustain a robust growth rate of 7.3% GDP, a testament to its ability to navigate complex global challenges.
Driven by resilience, innovation, and determination, India has overcome numerous challenges to emerge as a global leader in various fields with the visionary leadership of Hon’ble Prime Minister Shri Narendra Modi. Sectors like manufacturing, infrastructure, IT and healthcare have been at the forefront of India’s stellar economic growth, contributing significantly to the nation’s progress. The key driver of this growth has been the strong domestic demand, showcasing India’s ability to thrive even during global economic downturns. Supported by its vast population of 1.42 billion, India has shown perseverance against all odds.
The healthcare sector is poised for significant growth which is expected to be accelerated by digital transformation in the coming years. As per BCG, with digital transformation the sector has the potential for 10-fold growth, from $ 2.7 billion in 2022 to $37 billion by 2030. A large segment of the population has also benefited from the mammoth Ayushman Bharat PM-JAY scheme which currently provides access to affordable healthcare to 300 million individuals from poor and underprivileged class.
India has always been known as a powerhouse of medical talent who provide top-notch clinical solutions at affordable costs. This has been the reason behind the growth of medical value travel to the country over the years, providing impetus to Heal in India initiative. Driven by the vision of One Earth – One Health which focuses on making quality healthcare affordable and accessible for people across the world, the medical value travel sector is all set to add another $9 billion by 2026, as per Niti Aayog.
At Aster, we are proud to be one of the leading players in the Indian healthcare sector committed to add to India’s growth story. One of the first healthcare companies from Middle East to be listed in India, we have always believed in the potential and the people and helped them to maintain the quality of healthcare at affordable cost. Our 34 hospitals, 131 clinics, 502 pharmacies, 251 labs & patient experience centres across 7 countries, combined with the digital reach of myAster app, we are committed to making quality healthcare services easily accessible to people across the world. In India our leading presence across 5 States over the years has ensured that we emerge as the brand of trust among the communities that we serve.
We are also glad to have played an integral part in strengthening India- UAE ties over the years through leveraging our expertise across the markets and supporting larger conversations around trade ties, knowledge and talent exchange. With UAE and the region being home to one of the largest Indian expat communities in the world, we are confident of collective progress. With a thriving start-up sector, fast-paced technology developments and an entrepreneurial mindset supported by the government, India remains a country with immense potential, while UAE driven by its vision to emerge as a world leader across sectors will remain as one of India’s key investors.
As we celebrate India’s 75th Republic Day, it is a moment to honor the past, celebrate the present, and envision a future where India continues to thrive and lead on the global stage. The journey so far has been remarkable, and the nation stands poised for even greater accomplishments in the years to come.