Self-sufficiency in med tech will continue to grow driven by increase in demand for locally produced goods: Dr GSK Velu

 Dr GSK Velu, CMD, Trivitron Healthcare

The year 2020, being the year of the pandemic, has served as a lesson for all. Business leaders and healthcare policymakers, in a post-pandemic world, shall adopt a new set of rules, confirm flexible guidelines, and remain careful to keep away from any risk-averse mode.

Self-sufficiency in medical technology will continue to grow driven by an increase in the demand for locally produced goods. Looking at the pace of technological advancements and the induction of new age technologies, I am sure, we will be able to improve our logistics infrastructure, strengthen our manufacturing sector, and be able to develop our own forecasting systems that will further accelerate the Indian healthcare sector.

Taking cues from 2020, it shall be wise for organisations, to ensure business community, maintain a healthy balance sheet and keep a more detailed track of expenses against revenue status to have a clear picture of the financial status of the organisation and accordingly plan future goals.

Secondly, business leaders need to dig deeper into the existing supply chains to know the vulnerabilities of the existing supply chain models and look for options to collaborate to keep supply chains functional once the primary supplier collapses. And most importantly, organisations must develop more effective communication channels to remain connected with teams, clients, and all other business partners.