Speech for Ausbiotech Conference on Medical Devices market in India and How to do Business with India.

1. Speech by
Stephen Manallack
Author, “Soft Skills for a Flat
World” (Tata McGraw-Hill
India, 2012)
1.2 billion
reasons to be
excited about
India.

2. “The Great Gatsby” insight into India!
© Stephen Manallack 2012
F. Scott Fitzgerald –
“…the test of a first rate
intelligence is the ability to
hold two opposed ideas in
the mind at the same time,
and still retain the ability
to function.”

3. India Business TIP 1.
© Stephen Manallack 2012
Indian culture
embraces paradox –
two competing ideas
often go together

4. © Stephen Manallack 2012
You have to understand…

5. © Stephen Manallack 2012

6. © Stephen Manallack 2012

7. © Stephen Manallack 2012
India Business TIP 2.
India is a
smart,
innovative
country

8. Indian Medical Devices Market.
© Stephen Manallack 2012
US$2.6 billion today
75% imported
US$11 billion 2023
Drivers of growth…

9. © Stephen Manallack 2012
Drivers of growth in medical devices.
• Demography
– young + old
• Economic growth
= disposable income
• Health insurance
• Medical tourism

10. © Stephen Manallack 2012
The optimistic mind of the market.
Kiran Mazumdar-Shaw, Chair and
Managing Director, Biocon Ltd:
“My philosophy in life is that every
failure can be converted into a success.
As somebody said, defeat is temporary
but giving up is permanent. The way I
approached it was that I am going to be
just not brainwashed by perceptions. I
thought let me do it my way."

11. © Stephen Manallack 2012
India Business TIP 3.
Treat problems and
setbacks as a gift
It’s worth it because…

12. © Stephen Manallack 2012
Medical Devices Imports for India.
• Roughly 75% of the medical device market imported
• Key imports - imaging equipment, pacemakers,
orthopaedic and prosthetic appliances, breathing and
respiration apparatus, and dental equipment
• About 14,000 medical devices marketed in India
• Biggest suppliers - USA, Japan, UK, France, Finland and
Germany
• USA is leading supplier with more than 28% products

13. © Stephen Manallack 2012
Who are the major players in health?
Apollo Hospitals
Escorts Group
Fortis Healthcare
Max Healthcare
Manipal Health
Aravind Eye Hospital
…major players in over 30 cities

14. © Stephen Manallack 2012
India Business TIP 4.
Go with an open mind
Most diverse country on earth
Religions, beliefs, languages and culture
Your host could have spent many years in the USA or the
UK, and have a global outlook - or never have left India and
have a regional view

15. © Stephen Manallack 2012
Just some of the issues…
• Where to HQ?
• Who to partner?
• Constant travel (35
cities +)
• Long hours
• Slower, collective
decisions

16. © Stephen Manallack 2012
India Business TIP 5.
India will be
hard work,
so be
prepared

17. © Stephen Manallack 2012
Steve’s TIPS for success in India.
1. Be ready for paradox
2. India is smart, innovative
3. Treat problems as a gift
4. Go with an open mind
5. India will be hard work

18. © Stephen Manallack 2012
Why not take action?
Indian thinker
Rabindranath Tagore is
the inspiration to action:
“You can’t cross the
sea merely by
standing and staring
at the water.”