another sunrise sector ! or ! the sunrise sector !

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Page 1: ANOTHER SUNRISE SECTOR ! Or ! The sunrise sector !
Page 2: ANOTHER SUNRISE SECTOR ! Or ! The sunrise sector !

ANOTHER SUNRISE SECTOR !

Or! The sunrise sector !

Page 3: ANOTHER SUNRISE SECTOR ! Or ! The sunrise sector !

The Economy

• Economic Reforms since 90s :-– focused on• Liberalization• Globalization• Privatization

– Economy Shifted from• Socialist command to capitalist market

Since 2005 FDI stake

Page 4: ANOTHER SUNRISE SECTOR ! Or ! The sunrise sector !

• 100% FDI allowed in –– Housing– Commercial enterprises– Hospitals– Educational Institutions– City & regional level infrastructure

The Economy

Page 5: ANOTHER SUNRISE SECTOR ! Or ! The sunrise sector !

• 100% FDI allowed in –– Housing– Commercial enterprises– Hospitals– Educational Institutions– City & regional level infrastructure

The Economy

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• GDP2005– $604 billion – Accounting for 6.3% share of world income– Fourth largest in terms of real GDP

2010 – $929 billion

BUT

The effects

Page 7: ANOTHER SUNRISE SECTOR ! Or ! The sunrise sector !

2008– GDP crossed $ 1 trillion

FORECAST

Gdp Growth at 7 – 7.5%$27 TRILLION BY 2050

The Effect

Page 8: ANOTHER SUNRISE SECTOR ! Or ! The sunrise sector !

Barriers to Growth

• Inflation• Global Recession• Resource crunch• Environmental effects• Improper utilization• Diminishing returns to capital ( i.e. a point

when increase in capital will not result in economic growth) – “ steady state ”

Page 9: ANOTHER SUNRISE SECTOR ! Or ! The sunrise sector !

The Solution !

• Overcome “ steady state” and continue growing by inventing new technology and/ or “new capital”.

HOW ?

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BUT FIRST !

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The health sector

• Contribution of health sector to Indian Economy :-– Highest year on year growth of 42% in earnings

(2007) due to • Availability of high quality care• Rise in number of patients visiting India

• One of the largest service industries employing > 4 million workers

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• Health care spending will double in next 10 years• Private health care spending - $ 15 billion $ 34 billion by 2012 $ 42 billion if health insurance made

available to rich and middle class• Voluntary health insurance market( $2.8 billion)

growing at 30% p.a.

The health sector

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• With expected rise in pharma, insurance & medical devices market, the total health care market will rise from :-– Rs 1030 ($22.2) billion ( 5.2% of GDP)

To– Rs 2320 – 3200 ( $ 50-90) billion (6.2 – 8.5% of

GDP) by 2012

The health sector

Page 14: ANOTHER SUNRISE SECTOR ! Or ! The sunrise sector !

The Barriers

• Too many Health s• Lack of Resources• Trained Manpower

shortage• Political interference• Corruption• Poor Infrastructure

• Inequity in accessibility• Lack of health

education• Impractical Planning• Lack of valid data• Wrong Focus/priorities• Social & Cultural

Barriers

Page 15: ANOTHER SUNRISE SECTOR ! Or ! The sunrise sector !

The Barriers

• Too many Health s• Lack of Resources• Lack of health

education• Political interference• Corruption• Poor Infrastructure

• Inequity in accessibility• Trained Manpower

shortage• Impractical Planning• Lack of valid data• Wrong Focus/priorities• Social & Cultural

Barriers

Page 16: ANOTHER SUNRISE SECTOR ! Or ! The sunrise sector !

The Solution !

Education & Training

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Determinants of Economic Growth

–Quantum of labor force (LABOR CAPITAL)– Stock of physical capital–Technological changes embodied in capital

goods–Quality of labor force• Extent of education• Level of health

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The emerging skill shortage

POSITIVES• FAVORABLE DEMOGRAPHIC

PROFILE – MANPOWER AVAILABILITY, CAPABILITY TO LEARN

• KNOWLEDGE SERVICE SECTOR EMERGED AS SIGNIFICANT GROWTH ENGINE

• INDIA’S EARLY LEAD & STRONG FUNDAMENTALS

• IT-ITES SERVICES ALONE NEED 1000,000 PERS BY 2012

NEGATIVES• SHORTAGES IN TALENT

SUPPLY

• ONLY 10% OF GLOBAL MARKET POTENTIAL TAPPED

• 500,000 SHORT FALL IN SKILLED PERS BY 2010

• WILL LOSE US$ 86 BILLION WITH PRESENT CAPABILITY

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Page 20: ANOTHER SUNRISE SECTOR ! Or ! The sunrise sector !

EDUCATION

• GOVT RECOGNISES :-– THAT “ EDUCATION IS THE PATHWAY TO ECONOMIC

SUCCESS”– NEED FOR SUPPORT TO UNIVERSITIES &

EDUCATIONAL INSTITUTES– NEED FOR 1500 MORE UNIVERSITIES– NEED FOR BETTER TEACHING STAFF AT ALL LEVELS

WITH BETTER REWARDS & ACCOUNTABILITY– ‘ PUBLIC-PRIVATE PARTNERSHIP’ IN EDUCATION

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THE FUTURE OF EDUCATION

• Development & progress in the field of education is inescapable if we are to effectively compete with powerful global economies – Dr Manmohan Singh, PM, Goa University Convocation- Dec 2007,

• 11th Plan (2007-12) – Education centric plan• 19% of GDP for growth of the education

sector The new sunrise sector !!!!!!!

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The Immediate Need• Management of the health care verticals – By professionally trained health care managers– With primary managerial competencies; and– Thorough understanding of health care issues

CAPACITY BUILDING

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The sunrise sector

CAPACITY BUILDING FOR THE HEALTH CARE SECTOR’S

DEMAND FOR MANAGEMENT PROFESSIONALS

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The Health Care Matrix

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What brings it together?

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SCIENTIA

POTENTIA EST

Sir Francis Bacon1597 – Meditatione Sacrae

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The Conclusions

• Health care sector & education are the major drivers of the economy

• For the present growth to be sustainable over a period of time demands capacity building

• The indegenous attiudes, practices & procedures developed must be locally implementable and globally acceptable

• Academia – industry co-operation inescapable

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Some thoughts

• Our progress as a nation can be no swifter than our progress in education. The human mind is our fundamental resource.

• A teacher affects eternity; he can never tell where his influence stops

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