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situation for the people, where over 30 percent of the population fall below poverty line. By 2010, EMRI plans to extend its services across India and save 1 million lives a year.
Strategy#2: Export Successes
Solutions for one developing market can often be exported to other developing markets that have similar income constraints and environments. Hero Cycles (www.herocycles.com) have been a hit in India, and its various models and bicycle parts have been exported successfully to about 89 countries, including developing countries such as Paraguay and other African countries, and developed countries such as the US, the UK, Japan, and Germany. Hero collaborated with Honda Motor Company of Japan in making motorcycles, and one of its models – Hero Puch – is exported to developed countries such as Mexico, Argentina, Turkey, Holland, Spain, and others. The vehicles, designed for its domestic markets (India), also appeal to the broader developing world.
Strategy#3: Import Customers from the Developed World
In addition to exporting products to the developed world, digital technologies and inexpensive travel allow developing countries to import
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customers from the developed world. Developing nations are becoming hot destinations for “medical tourists,” not only from other developing nations but also from the developed world. Thailand, Malaysia, Jordan, Singapore, and India collectively host more than 1 million medical travellers each year, earning more than $1 billion in treatment costs alone. The market in India alone is expected to reach $2.3 billion (Rs.100 billion) by 2012
The medical tourism industry in India, with global revenues of approximately $20 billion, is one of the world’s largest industries, with an annual growth rate of about 30 percent. The cost of surgery in India can be one-tenth that of the US or Western Europe, or sometimes, even lower. About 10-12 percent of all patients in Mumbai’s top hospitals are foreigners. It is estimated that there are about 20 million NRIs or Persons of Indian Origin (PIOs), spread across 110 countries, who are potential customers for medical tourism in India. In 2006, about 150,000 medical tourists came to India.
Apollo
hospitals (www.apollohospitals.com) in India, started by Dr. Prathap C. Reddy, have created the largest chain of |
