Initiatives to promote healthcare R&D is missing in budget: Dr KM Cherian

Lagging behind in biosciences is not good for social security and strategic national security

Dr K M Cherian, chairman and CEO, Frontier Lifeline Hospital

Last Updated : Feb 02 2017 | 11:30 AM IST

The current budget is a good attempt for overall development of the country. However, as a senior healthcare professional in the country, I would have been happier to see some budget initiatives for promoting healthcare R&D.

Nearly 40 percent of global academic papers in bioscience and technology comes from Asia, led by China which is forecast to overtake the US as a producer of academic papers by 2020. In terms of PPP adjusted R&D spending, US leads the world with $ 473 billion (2.7 percent GDP PPP) followed by China, spending $ 409 billion (2.1 percent). The number of papers authored by Chinese scientist grew an average of 15 percent annually between 2001 and 2011.

In contrast, India's performance in medical innovation is negligible. India spends annually about $ 66.5 billion (0.85 percent GDP PPP) and publications are negligible. Due to its peculiar nature, lagging behind in biosciences is not good - not only from social security, affordability and foreign exchange perspective, but even from strategic national security angle.

Future of mankind including defence is going to be highly dependent on technologies such as genetics, genomics, biosciences and biotechnology, medical imaging etc. Imagine the same technology being used for medical imaging as well as for high altitude precision imaging from fighter planes.

We have the best of brains in the world and we should be proud of our achievements like MARS mission, Brahmos and a leading role in space research. Extending the same to healthcare R&D is an easy task provided policy level changes are adopted and the general outlook of banks, financial institutions and the investment community is supportive.

The Make in India initiative of our Prime Minister has surely inspired the whole country and we should capitalise it for our long term sustainable benefit in healthcare as well.
_____________________________________________________________________________________________

Dr KM Cherian is the chairman and CEO of Frontier Lifeline Hospital

Connect with us on WhatsApp

First Published: Feb 02 2017 | 11:27 AM IST

Initiatives to promote healthcare R&D is missing in budget: Dr KM Cherian

Lagging behind in biosciences is not good for social security and strategic national security

Subscribe To BS Premium

₹249

₹1699₹1999

₹1999

Explore News