Global big brands in the healthcare sector are keenly exploring opportunities in India and one of such brands is almost on the verge of signing an MoU in the country soon.

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David Sanford Wolfe, Chairman, Aaron Capital, Inc USA said about five to six brands in the healthcare sector are in the process of expanding their base in India and one of them is in the process of reaching an agreement with an Indian partner.

An announcement on this front is expected in next few days, he said on the sidelines of Dr D Y Patil Lecture, organised by D Y Patil International University, Pune.

Healthcare sector is the one where India is not upto the mark which makes a huge potential for investment by the global investors and hence some of the big brands in the healthcare sector in the US are coming to India, he added, while delivering his speech on ‘America is coming to India’.

The current impediments to bilateral relations include tariff and non-tariff barriers, complex custom clearance procedures, IPR and data localisation issues, he added.

Aaron Capital Inc is a sector agnostic Global Boutique Investment Banking Firm and operates in India through its affiliate Aaron Financial Advisory India.

Prof Prabhat Ranjan, the Vice Chancellor of the University and former chief of Technology Information, Forecasting and Assessment Council, said.

The country is a major importer of biomedical equipment at present and it will be a game changer if the industry can develop the eco-system domestically, he said.

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According to Wolfe, the bilateral trade between India and the US has risen by 72 per cent between 2017-18 and 2022-23. During 2022-23, the USA was the top destination of Indian exports to the world and the third source of India’s imports from the world. Further, India’s exports to the USA stood at $78.5 billion in 2022-23 and its imports from the USA were $50.2 billion, he said.