The esteemed Bajaj Group, a conglomerate valued at ₹1.46 lakh crore, is embarking on a significant diversification into the healthcare sector. This move marks a strategic new direction for the 98-year-old business, originally established by Jamnalal Bajaj. The healthcare initiative is expected to be spearheaded by Nirav Bajaj, who currently oversees corporate strategy at Mukand. To support this new venture, an office has already been established in Lower Parel, Mumbai.

The group aims to create a network of hospitals in key urban areas across India, capitalizing on the growing demand within the healthcare market. Major Indian private hospital chains are planning significant expansions for the financial year 2024-25 (FY25), fueled by a reported increase in the average revenue per occupied bed (ARPOB) during the financial year 2023-24 (FY24), highlighting a rising demand for healthcare services.

According to analyses from the Ministry of Health and ICICI Securities, life expectancy in India is projected to surpass 70 years by 2031, contributing to a growing aging population.

The proportion of senior citizens is expected to increase from 8.5% in 2011 to 13% by 2031, creating a heightened domestic need for healthcare services. India remains significantly underserved in terms of healthcare access. The OECD indicates that there are only 5 hospital beds and 8.6 doctors for every 10,000 people in the country. Additionally, the rise of non-communicable diseases, especially cardiovascular conditions linked to lifestyle changes, further underscores the necessity for improved healthcare solutions. These factors likely influenced Bajaj Group's decision to enter the healthcare arena.

Experts commend Bajaj Group's decision to delve into healthcare, noting that the industry is experiencing rapid growth and transformation, driven by increasing demands for high-quality healthcare services and advancements in medical technology.