logo
Bupa weighs foray into private hospitals market in India

Bupa weighs foray into private hospitals market in India

Time of India9 hours ago

British health insurance major Bupa is looking to enter the fast-growing private hospital and healthcare market in India, currently dominated by players like Max Healthcare, Apollo Hospitals, Fortis, Narayana Health, and Medanta, as the company grows its engagement beyond the traditional insurance business (Niva Bupa), global CEO Inaki Ereno told TOI in an interview.
Excerpts:
How do you assess the Indian health insurance market in India?
The Indian health insurance market is the most attractive and best in the world. It's still under-penetrated, and we believe there will be many more people requiring private medical insurance. We need more beds, more hospitals, more clinics, and more insurance here... In terms of our own growth, it's been 35% over the last three years. We're clearly seeing a massive opportunity.
In markets like Europe, UK, Australia , Latin America, you have a Bupa Payvider programme where you provide not just insurance and easy claims processing, but also a network of healthcare providers. These include dental and mental health clinics, and hospitals. Any plans to start hospitals and such other services in India?
With Payvider, we are not just insurers but also providers. Of the claims that our patients go through, we always want around 25% in a place called Bupa - in a Bupa clinic, in a Bupa hospital, in a Bupa digital place.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Buy Brass Idols - Handmade Brass Statues for Home & Gifting
Luxeartisanship
Buy Now
Undo
This helps us to learn the cost of things, and also allows us to personalise the service.
It is too soon to talk about India. I cannot commit yet on the dates but, yes, you can expect that Bupa will keep investing here... we do have a plan, a commitment to study the situation and be ambitious and come up with something big. We believe that 25% of the activity that we do should be run in a place like Bupa.
Inflation in health costs is a concern for customers, which also sees policy costs go up. Your views?
When it comes to the cost of claims, there is inflation across the world.
This is why developing a private medical insurance market helps everybody. When you have more people into private medical insurance, that helps lower costs of claims.
Normally, premiums go up with inflation. So, they will not reduce. Are we expecting a big increase in premiums? The answer is no. We expect premiums to go in line with the Consumer Price Index (CPI).
Apart from metros and bigger cities, how do you see the opportunity in Tier 2 and Tier 3 towns and rural India?
We are clearly targeting markets beyond the top 50-60 cities.
We think there's a massive opportunity to get people into the fold of insurance. India is at a very nascent stage, and awareness is still low with respect to health insurance.
India is a growing country, with lots of construction and other infrastructure activities happening. Do you think that dust, pollution, and long traffic snarls in congested cities create health hazards for people?
The answer is yes, though no one can make a direct correlation in elements like these. But we are working with the Norman Foster Foundation to understand what is the impact that living in a particular city has on your health, including in Delhi.
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.
AI Masterclass for Students. Upskill Young Ones Today!– Join Now

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Chennai-based Lalithaa Jewellery Mart files DRHP for Rs 1,700 crore IPO to fuel southern expansion
Chennai-based Lalithaa Jewellery Mart files DRHP for Rs 1,700 crore IPO to fuel southern expansion

Economic Times

time11 minutes ago

  • Economic Times

Chennai-based Lalithaa Jewellery Mart files DRHP for Rs 1,700 crore IPO to fuel southern expansion

Lalithaa Jewellery Mart, a Chennai-headquartered jewellery retailer offering gold, silver, and diamond jewellery designed for southern Indian markets, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise Rs 1,700 crore through an initial public offering (IPO). ADVERTISEMENT The proposed Rs 1,700 crore IPO comprises a fresh issue of up to Rs 1,200 crore and an offer-for-sale (OFS) of Rs 500 crore by promoter M. Kiran Kumar Jain. The company also plans a reservation for eligible employees with a bidding discount and may undertake a pre-IPO placement of up to 20% of the fresh issue size, which would proportionally reduce the fresh issue. Proceeds from the fresh issue will be primarily deployed towards capital expenditure for setting up new stores in India, amounting to Rs 1,014.50 crore, with the balance allocated for general corporate purposes, the company said in its filing. The issue will follow the book-building process, allocating no more than 50% of the net offer to qualified institutional buyers (QIBs), and reserving at least 15% and 35% for non-institutional investors and retail individual investors, respectively. The company proposes to list its shares on the National Stock Exchange of India and BSE Ltd. Founded in 1985, Lalithaa Jewellery Mart opened its first store in Chennai's T. Nagar, a hub for silk and jewellery retail. The company operates 56 stores across southern India's Tier I, II, and III cities, including 22 in Andhra Pradesh, 20 in Tamil Nadu, seven in Karnataka, six in Telangana, and one in Puducherry, spanning a total operational area of 6,09,408 sq. ft. As of December 31, 2024, 47 of these stores each cover more than 5,000 sq. ft. According to a CRISIL report cited in the DRHP, Lalithaa Jewellery Mart recorded the highest operating revenue per store among key organised jewellery players in India between fiscal years 2022 and 2024. It is also ranked the second fastest growing regional jewellery player based on operating revenue growth during the same period, posting a compound annual growth rate (CAGR) of 43.62%. ADVERTISEMENT The company's jewellery schemes, 'Dhana Vandhanam' and 'Free-yo-Flexi,' have attracted repeat customers, with 420,261 active enrolments as of December 31, 2024. Lalithaa Jewellery Mart runs two manufacturing units in Tamil Nadu, one at Thirumudivakkam, Chennai, and another at Maraimalai, Kanchipuram, the latter through its wholly owned subsidiary Asita Manufacturing Private Limited. From December 2024, operations commenced at the Thirumudivakkam facility. The company employs a total of 563 Karigars across both manufacturing units. ADVERTISEMENT The company also operates one of India's largest jewellery stores in Vijayawada, with a carpet area of 1,00,000 sq. ft., alongside large-format stores in Somajiguda (98,210 sq. ft.) and Vishakhapatnam (65,000 sq. ft.), making them among the largest jewellery retail outlets in the country, according to Lalithaa Jewellery Mart reported a 26.07% increase in restated consolidated revenue from Rs 13,316.80 crore in fiscal 2023 to Rs 16,788.05 crore in fiscal 2024, driven by the rise in store count from 47 to 53, higher gold rates, and increased gold sales. For the nine months ended December 31, 2024, the company posted revenue of Rs 12,594.67 crore and profit after tax of Rs 262.33 crore. ADVERTISEMENT The Indian gems and jewellery retail industry was valued at Rs 6.49 trillion in fiscal 2024 and is expected to grow at a CAGR of 13–14% to reach Rs 12–12.2 trillion by fiscal 2029. South India remains the largest jewellery-consuming region, accounting for 38–43% of the country's overall jewellery Rathi Advisors and Equirus Capital are the book-running lead managers for the issue, while MUFG Intime India serves as registrar. ADVERTISEMENT Also read | IPO calendar: 4 new issues, 1 listing lined up in a busy mid-June week (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

NATO chief urges 400% increase in alliance's air defence
NATO chief urges 400% increase in alliance's air defence

Time of India

time16 minutes ago

  • Time of India

NATO chief urges 400% increase in alliance's air defence

AP image Nato Secretary General Mark Rutte on Monday was due to urge a "400 percent increase" in the transatlantic alliance's air and missile defence capacities in response to the threat from Russia. "We see in Ukraine how Russia delivers terror from above, so we will strengthen the shield that protects our skies," Rutte was due to say in a speech to the Chatham House think-tank in London, according to comments quoted in a statement. To maintain credible deterrence and defence, he was to say that Nato needs "a 400 percent increase in air and missile defence". His comments come ahead of a Nato summit in the Netherlands this month where US President Donald Trump is pressuring alliance members to announce a major boost in their military budgets. Trump is pushing Nato members to increase their defence spending to five percent of their gross domestic product (GDP), up from the current target of two percent. US Secretary of Defense Pete Hegseth said last week in Brussels that the allies were close to an agreement on the five-percent target, which could be formalised at the summit in The Hague. Nato members have been scrambling to bolster their defence capabilities since Russia launched its war against Ukraine in February 2022. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Hand Chopper| Free Delivery | COD Available Undo Hand Juicer | Manual Jucier | Free Delivery | COD Available Undo PavBhaji Masher | Free Delivery | COD Available Undo Strech Lids | Free Delivery | COD Available Undo "Danger will not disappear even when the war in Ukraine ends," Rutte was to say. "We need a quantum leap in our collective defence... We must have more forces and capabilities to implement our defence plans in full." "Our militaries also need thousands more armoured vehicles and tanks, millions more artillery shells." Rutte will visit London next week, where he is expected to welcome Britain's new defence strategy. Britain announced plans last week to build up to 12 nuclear-powered attack submarines and six munitions factories to rearm the country in response to Russia's invasion of Ukraine.

China's rare earth export curbs are India's wake-up call
China's rare earth export curbs are India's wake-up call

Mint

time19 minutes ago

  • Mint

China's rare earth export curbs are India's wake-up call

The US-China trade war has opened a fresh front, now impacting Indian industry in a big way. China's curbs on exports of rare earth magnets—processed from rare earth elements (REEs)—have disrupted supply chains, particularly in the country's automobile sector. The development also underscores why India must urgently reduce its dependence on China by ramping up domestic exploration and refining of its own rare earth reserves. In April, Beijing imposed export restrictions on seven REEs in retaliation for US tariff hikes. Importers were forced to navigate a complex licensing system, triggering delays and shortages worldwide. Indian firms have faced stiffer restrictions than many others, Mint reported last week. China dominates the global rare earths industry, mining 46% of REEs and refining 74% as of 2024, according to the International Energy Agency. These 17 metals are essential for everything from electric vehicles and fighter jets to smartphones and MRI scanners. Given the high costs of extraction, China has built a commanding lead in the sector over decades. India, despite having the world's third-largest rare earth reserves—estimated at 6.9 million metric tonnes—mines only a small portion. The country has remained heavily import-dependent, with China as the primary supplier. India's position This isn't the first time China has used REEs as a geopolitical lever. In 2010, it briefly cut off exports to Japan during a territorial standoff. The latest curbs serve as a timely reminder for India to move faster in securing its access to these critical materials. Some steps have been taken. Under the National Critical Mineral Mission (NCMM), launched in January 2025 with a ₹16,300 crore outlay over seven years, REEs have been identified as one of 30 critical minerals. Their production and import have been made a national priority. In March, for the first time, the REE sector was opened to private investment. A Reuters report noted that the government plans to introduce fiscal incentives for domestic production in response to the current disruption. But more must be done. A 2020 Exim Bank working paper identified key gaps. Chief among them is India's limited refining and processing capacity, which has long hamstrung efforts to tap domestic reserves. Greater investment in R&D is also needed to develop alternatives for critical minerals, the report said. India must also look outward—by enabling joint mining ventures and helping Indian firms acquire assets abroad. This strategy has been adopted by countries like the US and Japan. As the global push to reduce Chinese dominance in the sector gathers pace, India could emerge as a viable alternative supplier—though the transition will take time. China's own dominance took nearly two decades to build after it began prioritizing REE development in the 1980s. What next? Demand for rare earths is set to soar as the global economy pivots toward decarbonization and electrification. According to the IEA's Critical Minerals Outlook 2025, demand stood at 91 kilotonnes in 2024 and could nearly double to 178 kilotonnes by 2050. Clean energy will be the main driver, with REE demand from this segment expected to rise from 20% today to over 33% by 2050. 'Growing demand for permanent magnets, particularly from EVs and wind power, boosts the need for magnet rare earths," the IEA report noted. Read this | EV industry, government struggle to find alternatives as China throttles rare earth magnet supply While demand is set to rise sharply, the biggest vulnerability remains China's dominance—and its willingness to weaponize supply chains. Australia is expected to emerge as a key supplier over the next decade. Meanwhile, India and Central Asian nations—including Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan—have expressed interest in joint exploration of rare earths and other critical minerals. Such efforts may not yield immediate results, but could gradually chip away at China's grip over the global supply.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store