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Like every year before the budget the Finance Minister is besieged with diametrically opposite demands from different segments of the industry. For example, the indigenous manufacturers ask for custom duty increases and the transnationals asks for its reduction. How will she decide? Frankly, it is not easy. Why? Because there is a lot of rhetoric and it is difficult to distinguish rhetori...

Levitt and Dubner in their book Freakonomics quote a medical study which found that obstetricians in areas with declining birth rates are much more likely to perform cesarean section deliveries than obstetricians in growing areas – suggesting that when incomes start falling doctors try to ring up more expensive procedures. This is an example of a treatment bias. Is it possible that the stent...

Throughout history there have been many instances of governments wanting to control prices. In most of these instances, the often-well-intentioned price control has inadvertently hurt access or at least brought down the quality of the sector. The attempt to control prices of medical services is not new. It dates back to several millennia. The first medical technology was Religion. Beca...

In an exclusive interview with Arunima Rajan, Pavan Choudary, Chairman of the Medical Technology Association of India (MTaI), discusses the pricing framework for medical devices, shedding light on its critical aspects and implications for the industry. What are the key considerations or factors that the NPPA should take into account while developing the new pricing framework for medical devices?...

Let us attempt to answer this question by looking at how the three determinants of socio-political existence, Wealth, Power and Status are configured today and how these could motivate individuals and groups to vote in 2024. Wealth: For the last 3,000 years of recorded history the world has swung between concentration of wealth and dispersion of wealth. Capitalism concentrates wealth due...

Before the likes of Modi and Kejriwal came on the scene, it was felt that in Indian politics the meek will continue to inherit the world. The genuflectors will be crowned. Note how those in the prime-ministerial fray bowed to the powers that be. Except Rajiv Gandhi who came on a sympathy wave, every prime ministerial aspirant stooped to ascend. Indira Gandhi too was known as the Goongi Gudia (mute...

The Medici business family of Italy rose to prominence in the 14th and 15th century. They were well known for their banking prowess and are also credited for funding the renaissance in Italy through their patronage of art and philosophy. But the Medician patronage of the arts was not random. It was thoughtful and targeted. Medici wanted to use art to advance the society. Several philosop...

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Machiavelli said, “the ruler’s virtuous actions can also bring harm”. He cites the example of Pertinax, the Roman emperor who after taking over from his predecessor Commodus, mandated his soldiers to live an honest and Spartan life. These soldiers were accustomed to living licentiously under Commodus. They started hating Pertinax for withdrawing their privileges and he was overthrown and assassina...