INDIA'S medical and healthcare industry players are looking at teaming up with their Malaysian counterparts in smart partnerships that will lead to the transfer and sharing of expertise between the two countries.
Federation of Indian Export organisations convenor S.S. Chakrabotry said India's healthcare sector was ready to transfer its medical technology to Malaysia and players in both countries could share their expertise and exploit the global medical industry, worth US$3tril currently.
“We are ready to share our technology in neuroscience, cardiac surgery and in all information technology services related to healthcare,” he said after opening the one-day Indian Healthcare Forum: Opportunities for the Malaysian Healthcare Industry in Kuala Lumpur yesterday.
Areas in India's advanced healthcare sector that Malaysia can tap include medical data, billing systems, telemedicine and virtual hospitals or virtual medical colleges.
One of India's largest service sectors, the healthcare industry employs over four million people.
It is also believed that India has at least 20 hospitals, which have facilities and services that are either at par with or above international standards.
The smart partnerships were also aimed at promoting stronger Government-to-Government collaborations in the longer run and provide the opportunity to further enhance the healthcare sector in both countries, Chakrabotry said.
This, he said, was in line with India and Malaysia's vision to become healthcare hubs in Asia by 2012.
He said both countries and Indonesia offered cost advantage mainly due to cheaper labour cost compared with established hubs such as the US and Britain.
Some 20 Indian officials representing the government, private hospitals, pharmaceutical companies and health insurers are participating in the forum to explore potential opportunities in the local healthcare industry.