After telecommunications and Internet, the healthcare business is all set to revolutionize the domestic scenario. With the entry of big corporate houses into the sector in the last two years, the essential ingredients of the next revolution are all in place.

Thanks to the NRI community of Kerala who way back in the late '80s pumped resources into India to test the concept of nursing homes; healthcare is fast emerging as one of the hottest areas. Despite being accorded an industry status, healthcare has remained on a low note since last 15 years. Even the Government's National Health Policy drafted in 1983 aiming at "Health for All" by 2000 could not fuel the growth of the sector. However, the recent entry of big corporate houses like Reliance, Aditya Birla Group, Escorts and pharma companies is all set to transform the healthcare business in India.

The liberalization policies adopted by the Government in early '90s attracted private players and investment into the sector. However, the activity in the industry had been subdued by the telecom and Internet revolution. In spite of the lack of notice, the industry has witnessed a steady growth more because of large-scale investments and forays into the sector by corporates. The corporatization and proliferation of secondary and tertiary care hospitals has made healthcare in India more accessible and easy. Despite this certain gray areas still prevail that have to be attended so that it becomes the next big thing in India. Can corporate entry into this sector make it really hot?

It is a very good sign that big corporates are venturing into healthcare business. But why are the corporates attracted more to this sector especially when there are other sectors that are promising to give more. Obviously, profit motive is one aspect that the corporates will be having on their minds. More than that the long-term prospects of this industry suggest that it is going to be a core activity. According to a survey conducted by the Center for Monitoring Indian Economy, the healthcare business is likely to grow by around 13 percent a year for the next six years. This is a very good forecast and the prospects on hand suggest that this trend will continue further. The growth in literacy rates, higher levels of income, increased awareness, more penetration of media all have contributed to the growth of the industry and these factors will continue to support the industry in sustaining the high growth rates.

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