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Budget should encourage indigenous innovation: Dr K M Cherian

Special purpose PE fund could be another game changer for encouraging research in healthcare sector

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

4 min read Last Updated : Apr 12 2019 | 4:04 PM IST

For this budget, I hope the central government would address a fundamental challenge in our healthcare system, which has to be addressed at a policy level.

India depends upon import for more than 75 percent of medical device requirements and patented drugs, thus making healthcare unaffordable to the masses and losing precious foreign exchange. While we are big on generic drugs, new molecule development and patenting in the country is lacklustre.

Data from World Intellectual Property Organisation (WIPO) shows that South Korea has 4,451 patent filing per 1 million population, Japan has 3,716 ad China has 541. Compared to these,

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