Health, Economy And Social Resilience: Integrating Approaches For A Stronger Future
Experts shared insights on building a sustainable and equitable path toward India’s USD 30 trillion vision by 2047
Amid growing challenges and opportunities in India's healthcare ecosystem, integrating health, economy, and social resilience has become a pressing need. The nation’s journey towards becoming a developed country by 2047 hinges on systemic reforms, particularly in healthcare, which is central to economic growth and social equity. These issues took centre stage at the "Trialogue on Health, Economy, and Social Resilience," where thought leaders from diverse sectors shared their insights on building a sustainable future.
The Vision for a $30 Trillion Economy by 2047
LM Singh, Managing Director – India and Global Head – Partnerships and Innovative Finance at Vital Strategies, moderated the session with a focus on the intersection of healthcare, economic resilience, and social equity. Singh highlighted that India's path to achieving the ambitious USD 30 trillion economy milestone by 2047 demands addressing systemic challenges in healthcare infrastructure, equitable resource distribution, and preparedness for an ageing population.
"The honourable Prime Minister’s vision of a developed India by 2047 is a great goal, but it requires a roadmap that integrates health systems with economic and social frameworks," Singh remarked. He also emphasised the critical role of urbanisation, lifestyle changes, and the rising non-communicable disease (NCD) burden in shaping India’s healthcare priorities.
Universal Health Coverage: Equity at the Core
Neeraj Jain, Country Director - India & Director Growth Operations – Asia, Middle East & Europe at PATH, stressed the importance of universal health coverage (UHC) in achieving health equity. "There are two Indias—the one with access to the best healthcare and the one where low-resource settings dictate limited access. UHC is about bridging this gap," he stated.
Jain outlined three key pillars necessary for achieving UHC:
1. Infrastructure Development: Strengthening primary health centres and tertiary care facilities to ensure quality service delivery.
2. Financing: Developing sustainable funding mechanisms for both public and private sectors to enhance healthcare accessibility.
3. Health-Seeking Behavior: Encouraging preventive care and wellness through behavioural interventions, particularly in underserved communities.
He also pointed out the importance of leveraging technology, such as digitisation and initiatives like the Ayushman Bharat Digital Mission, to address workforce shortages and improve healthcare delivery.
Eye Care and Elderly Health: An Underrated Challenge
Tanuja Joshi, Managing Director of Venu Eye Institute & Research Centre, drew attention to the growing burden of avoidable blindness and its economic implications. "Eighty per cent of blindness is preventable, yet it remains a major disability that affects economic productivity," Joshi said.
She also discussed the dual challenge posed by India’s ageing population, projected to reach over 350 million by 2050. Joshi emphasised the importance of integrating traditional and modern medicine to focus on preventive healthcare.
Empowering Rural Communities
Geeta Malhotra, Chief Executive Officer of Rural Education and Development (READ) India, highlighted the unique challenges of rural healthcare. She stressed the need for capacity-building initiatives that empower local communities to become active participants in their health outcomes.
"Rural health systems require innovative solutions that blend public and private sector efforts. Behavioural change and education are vital to ensure lasting impact," Malhotra stated.
The Road Ahead
The discussion underscored the need for a collaborative approach involving policymakers, healthcare providers, and communities. Public-private partnerships, technological advancements, and an emphasis on preventive care emerged as critical enablers for achieving a resilient healthcare system.
As Singh concluded, "Health, economy, and social inclusion must work in tandem if India is to fulfil its vision of becoming a fully developed nation by 2047. The time to act is now."
The discussion moderated by LM Singh unfolded at the recent BW Social Impact Summit& Awards 2024.
