Most of us, if not all, would have heard the words ”healthy, wealthy, and wise” in our youth. If a single life lesson learnt from the COVID-19 pandemic is to claim precedence over others, it is that health, be it the state of complete physical, mental, and social well-being, or equated with wealth, is paramount. This takes us back in time to those three words where, whether ranked in importance or alphabetical order, health was in first place.
From March 2020 when the country went into lockdown, Indian industry has been ideating and developing new technologies (or “healthtech”) that assist, or even reduce, the burden of frontline health workers. The Government of India too recalled the paramountcy of health by increasing the allocation to healthcare considerably in the Union Budget 2020-21. While it did not specifically refer to healthtech, it could be suggested that the emphasis on Atmanirbhar for the development of primary, secondary, and tertiary healthcare systems, as also the introduction of Production Linked Incentive Schemes to further Atmanirbhar, is one way that the ideating healthtech professionals, and consequently the healthcare system, could benefit.
Please click here to read the full article by Arjun Krishnamoorthy published in BW Legal World.
Arjun is part of the Life Sciences, Healthcare and Pharma practice, with a focus on commercial contract advising (including service agreements, franchising agreements, and employment and consultancy contracts), M&A, regulatory compliances, data protection, and real estate matters.