"The Indian healthcare industry is experiencing a phase of rapid expansion with 12 % CGPA (cumulative growth per year) since 2008 and its market is ready for rough Rs.1.3 billion (Rs.12, 60,000 crore) in revenues in 2020 "Apollo Hospitals Group founder chairman Prathap C. Reddy, said at a function here.

Inauguration of the second edition of the international conference-cum-exhibition "Healthex 2011 at Bangalore International Exhibition & Convention Centre (BIEC) on the outskirts of the city, Reddy said private hospitals for training and upgrading of equipment to reach and better serve their patients with the best methods and practices.

"The government initiatives and public-private partnerships to create greater opportunities for nurses, paramedics, emergency medical technicians and medical specialists around the country," said Reddy.

According to the Investment Commission of India, will market the size of hospitals and nursing homes will be Rs.54, 000 crore with 20 % annual growth, medical equipment Rs.9, 000 crore with 15 per % growth, the diagnosis of clinical laboratory Rs.4, 500 crore with 30 % growth, the diagnostic imaging Rs.4, 500 crore with 30 % growth, and other services, including training and education, aesthetics and weight loss, and retail pharmacy Rs.9, 000 crore.

"Health insurance has the potential to grow the top line, a study by McKinsey Global Advisory CII (Confederation of Indian Industry) estimates that the number of insured persons at 315 million euros, with a potential to generate Rs.34, 650 crore of premium in 2015, Reddy said.

Importing customers into India for medical tourism, educational services, leisure tourism is expected to generate an additional $6-50 billion in revenue and create 10-48 million direct and indirect jobs by 2020.

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CII hosted by the National Health Council, a three-day event will present the medical, surgical and diagnostic technology, materials, supplies and related services offerings.

"With a host of innovations and trends in the health sector, there is a need for public and private sectors to work together in the public interest," said Air Vice-Marshal Tyagi Pankaj, the opening of the exhibition.

Addressing the representatives and exhibitors, the health secretary of Karnataka Ramana Reddy said that health has emerged as one of the most progressive areas of service and the country's largest.

"Vision 2020 the country should include the provision of affordable health care, even for the rural poor, in addition to providing better health systems," said Reddy.