"Healthcare spending to double in India by 2012 For an emerging economy, India spends a small $14.8 billion on healthcare which equates to roughly 5.2% of the GDP. This will however change quickly and the country is expected to spend $33.6 billion by 2012 with healthcare spending accounting for 8.5% of the economy. Here is a graph comparing spending for some countries as a % of their GDP of their stack up currently (Source: WHO Health Statistics,2007)".
I didn't post the graph, as the numbers tell the story. They spend a paltry amount.....for now.
"Because so little insurance is available to the population of India, outof-pocket payments for medical care amounted to 98.4% of total health expenditures by households, as of the most recent (2001–02) census. Without insurance, the poor must resort to taking on debt or selling assets to meet the costs of hospital care. It is estimated that 20 million people in India fall below the poverty line each year because of indebtedness due to healthcare needs."
Apologies if I insulted you, I should have positioned my post in a more suitable manner.
The medical insurance market is growing and becoming highly lucrative. More and more Indians will have health insurance over the next few years and decade. No, not all 1.1B but with that many people, small percentage growth translates into many new customers, clients, insured folks...whatever you want to call them.
Now, I have not read this entire report (Tonight, I have to do a lot of research on the benefits/challenges of sustainable viticulture in Champagne) but it shows that health care is getting better and more people are getting insurance.
Such a large country with so much potential is a great place to be, with just about any product. Especially a product that may cure or help alleviate a disease that dirty, congested and unclean conditions of a transitioning 3rd world nation promotes.