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As on : 04-Feb-2025

Economy - Reports
04-Feb-2025 17:52

India's Medical Value Travel market projected to reach $13.42 billion by 2026

Ministry of Tourism stated in a latest update that India's Medical Value Travel (MVT) sector is witnessing significant growth. The market, valued at $2.89 billion in 2020, is projected to reach $13.42 billion by 2026, driven by increasing foreign patient arrivals seeking high-quality and cost-effective treatment. Ministry of Tourism stated that India's tourism sector, rich in heritage, culture, and diversity, is emerging as a global favorite and a key driver of economic growth. Recognizing its potential for employment-led development, the Union Budget 2025-26 has allocated Rs 2541.06 crore to enhance infrastructure, skill development, and travel facilitation. A major initiative includes developing 50 top tourist destinations in partnership with states through a challenge mode, ensuring world-class facilities and connectivity.

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