Healthcare is increasingly recognized as a strategic priority across the globe—both in terms of its critical social role and its economic potential. As one of the fastest-growing and most investment-intensive sectors, the Indian healthcare industry is witnessing an unprecedented transformation. Valued at approximately US$ 100 billion, the Indian healthcare market is projected to reach US$ 280 billion by 2025, growing at a CAGR of 22.9%. Healthcare delivery—including hospitals, diagnostic centres, nursing homes, and pharmaceuticals—constitutes nearly 65% of this expanding market.

India’s Healthcare Landscape

India’s healthcare sector is advancing rapidly, driven by a synergy of government reforms, private sector investment, digital innovation, and the country’s inherent cost advantages. The Healthcare Information Technology (IT) market, currently estimated at US$ 1 billion, is set to grow by 1.5 times by 2025, highlighting the increasing role of digital solutions in healthcare delivery and management.

ICC’s Strategic Role in Shaping Healthcare

The Indian Chamber of Commerce (ICC) has long recognized the healthcare sector’s potential to drive inclusive growth and societal well-being. Through a range of forward-looking initiatives, ICC has become a catalyst for progress in this vital sector—promoting infrastructure development, fostering innovation, and facilitating multi-stakeholder collaboration.

ICC continues to serve as a trusted platform for dialogue and policy advocacy, bringing together key players including hospitals, insurers, technology providers, regulatory agencies, and international partners to accelerate progress towards Universal Health Coverage (UHC).

Key Focus Areas and ICC Initiatives

1. Health Technology & Digital Innovation

ICC champions the integration of advanced healthcare technologies—such as telemedicine, AI-driven diagnostics, clinical trials, and hospital automation systems—to enhance access, affordability, and efficiency in care delivery.

2. Skill Development & Workforce Training

To bridge the talent gap in India’s healthcare ecosystem, ICC actively supports skilling and upskilling initiatives for medical, paramedical, and technical professionals, in alignment with industry demands.

3. Medical Tourism & International Collaboration

India continues to strengthen its position as a global healthcare destination. In 2023, over 634,000 foreign patients visited India for treatment, contributing to a US$ 7.69 billion medical tourism market in 2024. ICC is fostering cross-border healthcare partnerships to expand India’s footprint in global health services.

4. Infrastructure, Insurance & Regulatory Compliance

By engaging stakeholders from hospitals, insurance firms, and public policy think tanks, ICC works to streamline healthcare infrastructure development, promote ease of doing business, and strengthen India’s regulatory environment.

5. Branding, Quality Assurance & Business Promotion

Through national-level conferences, exhibitions, and forums, ICC facilitates business development and branding efforts to position India as a global leader in high-quality, cost-effective healthcare delivery.

ICC Healthcare Core Group

To drive focused interventions, ICC has constituted a Healthcare Core Group led by Mr. Prashant Sharma, Managing Director of SKM Group (Charnock Hospitals Pvt. Ltd.). The group brings together leaders from across the healthcare value chain—including hospitals, medical equipment manufacturers, insurers, pharmaceutical companies, and academic institutions—to identify opportunities, resolve challenges, and unlock sectoral growth.

Looking Ahead: Future Prospects

The Union Budget 2024–25 has allocated ₹89,287 crore (US$ 10.7 billion) for healthcare—a clear indication of the sector's strategic importance. Future growth will be fuelled by cutting-edge developments in biotech, health tech, pharmaceuticals, and digital health ecosystems. With strategic guidance and industry-wide collaboration, India is well on its way to becoming a global leader in accessible, affordable, and high-quality healthcare.

Key Events Organized by ICC Healthcare are

ICC Health Care Excellence Awards

ICC National Nursing Excellence Awards

Through strategic leadership, policy engagement, and collaborative action, the Indian Chamber of Commerce reaffirms its commitment to empowering India’s healthcare sector—supporting national health goals, driving economic development, and strengthening India’s global presence in the health domain.