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FDI inflow into hospitals & diagnostic centres grows 90% in first nine months of 2023-24
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Gireesh Babu, New Delhi
April 17 , 2024
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The Foreign Direct Investment (FDI) equity inflow into the hospital and diagnostic centres sector in the country has witnessed a growth of around 90 per cent during the first nine months of the current fiscal year, while the foreign equity infusion into the medical and surgical appliances sector grew 30 per cent during the comparable period.
The hospital and diagnostic centres in the country have attracted a foreign equity fund infusion of $1.08 billion during the April to December of 2023, as compared to $570.5 million during the same period of previous year.
The infusion into the sector has registered almost three fold growth during the quarter ended December, 2023, at $328.87 million as compared to $95.2 million fund inflow in the same quarter of last year. However, the third quarter of the current fiscal reported a decline of 45 per cent as compared to the $600 million fund inflow in the previous quarter ended September, 2023, according to data from the Ministry of Commerce and Industry.
The sector witnessed a foreign fund inflow of $154.83 million during the April to June quarter. The growth during the second quarter from July to September, 2023 as compared to the $310.83 million fund inflow in the same period of previous fiscal was around 93 per cent.
Cumulative fund infusion into the segment from the year April, 2000 to December, 2023 stood at $9.82 billion, growing from $8.5 billion till December, 2022.
The sector reported a growth of 10.2 per cent FDI inflow growth during the fiscal year 2022-23 at $8.73 billion as compared to $7.93 billion during the fiscal year 2021-22.
The medical and surgical appliances sector registered a growth of 29.2 per cent in FDI equity infusion during the nine months from April to December, 2023, at $462.4 million as compared to $35.63 million during the same period of last fiscal year. While the second and third quarter reports a low inflow, during both this fiscal and the previous fiscal, the first quarter from April to June reported more than $300 million FDI equity infusion.
The quarter ended December, 2023 registered almost 90 per cent growth at $39.08 million as compared to the $ 20.60 million fund inflow reported during the same quarter of last fiscal year. However, the fund inflow during the quarter was almost 68.3 per cent low compared to the $123.31 million registered during the previous quarter of July to September, 2023.
The cumulative FDI infusion into the sector from April, 2000 to December, 2023, according to the data from the Ministry of Commerce and Industry, is at $3.27 billion, as compared to $2.76 billion reported from April, 2000 to December, 2022.
The sector has seen the FDI equity inflow growing almost 90 per cent to $397 million in the fiscal year 2022-23 from $208 million in the fiscal 2021-22. The cumulative growth was around 16.5 per cent during the fiscal year 2022-23, to $ 2.80 billion between April 2000 to March, 2023, from $2.40 billion reported between April, 2000 and March, 2022.
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