On Thursday, 8th August 2024, the Association of Healthcare Providers India (AHPI), in collaboration with the Welsh Government, hosted a Life Sciences Wales Round Table. The event brought together key industry stakeholders, including AHPI members, to explore collaborative opportunities between the Welsh Life Sciences ecosystem and the Indian healthcare sector. The round table facilitated lively discussions about common interests, with a special emphasis on Indian enterprises' ability to establish or extend their presence in Wales.
Dr Girdhar Gyani, Director General of AHPI, emphasised the association's role in advocating on behalf of the hospital industry to government and regulatory bodies. "AHPI is committed to addressing advocacy issues and working with the government to achieve universal health coverage. We are closely collaborating with the Ministry of Health, ISRO, NITI Aayog, DRDO, and academic and research institutions like IISc," said Dr Gyani.
The impact of AHPI's advocacy efforts was also highlighted, with Dr Gyani mentioning that several of their recommendations have been accepted by the Indian government. “For instance, we have advocated for financial aid for senior citizens under the Ayushman Bharat Yojana to ensure they receive free treatment. Although this was not mentioned in the budget, the President has announced it, and many other recommendations have also been accepted,” Dr Gyani stated.
Dr Sunil Khetarpal, Director of AHPI, also discussed the association’s educational initiatives saying, "Under the AHPI Academy, we offer training programs and are deeply involved in capacity building and upskilling healthcare professionals. During the COVID-19 pandemic, we trained 3,000 Covid frontline workers. We are also working closely with the Ministry of External Affairs and have collaborated with various institutions to raise awareness and provide training to hospitals."
Julie Russell, Business Development Manager - Inward Investment at the Welsh Government, highlighted the government's support for business development and healthcare in a presentation. She emphasised initiatives aimed at driving job creation, skills development, research and development (R&D), and exporting. Key takeaways from the presentation included:
Aims to Boost Support for Diverse Businesses
According to Russell, businesses that come to Wales can access various forms of tailored support from the Welsh Government, which includes wide programs such as Innovate UK. The government is offering assistance in important areas including job creation and safeguarding, skills development, R&D, and expanding export capabilities. This targeted approach of the Welsh Government aims to foster innovation and growth across a wide range of sectors.
Finance Options for Growth
The Development Bank of Wales, a subsidiary wholly owned by the Welsh Government, plays a key role in supporting the Welsh economy by providing accessible finance options for businesses. The bank offers flexible loans and equity investments ranging from Rs 1,07,063 to Rs 1.05 billion, making it easier for businesses to start up, strengthen, and scale.
How Wales Offers Soft Landing for Businesses
As per the presentation, one of the primary benefits of establishing in Wales is the abundance of business incubators. Wales has the second greatest number of incubators per 100,000 enterprises in the UK, giving companies access to the tools and support they need to grow and flourish. These incubators provide a low-risk entry point into the UK and European markets, allowing entrepreneurs to investigate prospects with minimal upfront cost. Furthermore, Wales has lower operational costs than other locations, making it an alternative for businesses trying to optimise their spending.
The Life Sciences Wales Round Table, co-hosted by the Association of Healthcare Providers India (AHPI) and the Welsh Government, highlighted the relationships between India's healthcare industry and Wales' vibrant life sciences ecosystem. The event emphasised the mutual benefits of partnership, with the Welsh Government making a compelling case for Wales as an appropriate place for Indian businesses seeking to develop globally.
