India Healthcare Investment Surge: Bajaj, Adani, Reliance

The recent surge in healthcare investments in India shows the growing interest in the country’s healthcare sector. But why are so many investors betting big on India? The answer lies in India’s economic growth, thriving pharmaceutical manufacturing landscape, rapidly expanding middle class and business-friendly government. These factors are creating a strong foundation for healthcare advancements and attracting large-scale investments. From Gautam Adani announcing an INR 6,000 crore healthcare investment to the Bajaj Group committing an INR 10,000 crore to establish a chain of hospitals, it is evident that India is emerging as one of the fastest-growing healthcare hubs in the Asia Pacific region.

Let’s take a closer look at the leading healthcare investments in India that are making waves in the sector.

Bajaj Group Sets Sights on Nationwide Hospital Chain with INR 10,000 Crore Investment

In February 2025, it was reported that Bajaj Group, an Indian multinational conglomerate, is set to invest INR 10,000 crore (USD 1.1 billion) to build a network of both affordable and premium hospitals across India. This phased investment represents a strategic expansion of the group’s healthcare portfolio, which already includes Bajaj Finserv Health, a digital healthcare platform, and Bajaj Allianz General Insurance, a provider of health insurance. Moreover, the initiative also aligns with the country’s surging healthcare needs and expanding insurance coverage.

Bajaj Group’s bold investment move is likely to inspire other corporate players to invest in the healthcare infrastructure, thereby driving more capital into the sector. As per Expert Market Research estimates, the India hospital market is anticipated to grow at a CAGR of 5.8% during the forecast period of 2025-2034 to achieve a value of USD 164.4 billion by 2034. This growth reflects the rising opportunities and potential within the healthcare market in the country.

Wipro GE Healthcare to Boost Local Manufacturing and R&D with INR 8,000 Crore Investment

Wipro GE Healthcare, a joint venture between GE Precision Healthcare LLC (USA) and Wipro Enterprises Limited (India), intends to increase local manufacturing in India from 50% to 70 to 80% in the near future. To support this, the company will invest INR 8,000 crore over the next 5 years, focusing on both ‘Make in India’ and ‘Make in India for the World’. Having already invested USD 4 billion in R&D and manufacturing, Wipro GE has built a robust local supplier network of MedTech component manufacturing, contributing 1 million supplier labor hours, with plans to add 400,000 more.

The investment will stimulate manufacturing capabilities and local research and development. Products like Positron Emission Tomography-Computed Tomography (PET-CT) scanners for cancer diagnosis, Computed Tomography (CT), and MRI (Magnetic Resonance Imaging) coils will be made locally and exported worldwide. This initiative will help India meet its domestic healthcare needs and also contribute to the global supply of affordable healthcare technologies.

Apollo Hospitals to Invest INR 6,100 Crore in Expanding Capacity by 3,500 Beds

In November 2024, Apollo Hospitals Enterprise Ltd., the largest for-profit private hospital network in India, announced its plans to invest INR 6,100 crore to add more than 3,500 new beds to its network, which currently has 2,877 operational beds. This expansion will happen over the next four years at 11 different locations through new projects, upgrades, and acquisitions.

With a larger network and more resources, Apollo is expected to introduce advanced medical technologies, thereby raising the standard of healthcare services in India. Additionally, the expansion investment is likely to expedite the overall growth of the healthcare infrastructure in the country, particularly in underserved regions.

Adani Group’s INR 6,000 Crore Investment to Build Medical Ecosystems in Mumbai and Ahmedabad

On February 10, 2025, Ahmedabad-based Adani Group, a multinational conglomerate with a diverse presence in energy, logistics, ports, airports, mining, renewable energy, and infrastructure, announced a pivotal healthcare investment decision to commit more than INR 6,000 crore, with the vision to set up two health campuses in Ahmedabad and Mumbai. The ambitious project will be developed in collaboration with Mayo Clinic, the largest integrated, not-for-profit medical group practice in the world.

Each integrated medical campus will encompass a 1,000-bed multi-specialty hospital, advanced research facilities, a medical college, and step-down and transitional care facilities. By establishing these campuses in major urban centers like Mumbai and Ahmedabad, the project promises to address the healthcare needs of densely populated regions, making quality healthcare more accessible in key metropolitan areas.

Reliance Industries INR 375 Crore Acquisition of Karkinos to Strengthen Healthcare Footprint

In December 2025, Reliance Industries, one of India’s largest conglomerates with operations spanning telecom, energy, retail, and digital services, announced that its subsidiary, Reliance Strategic Business Ventures (RSBVL), had completed the INR 375 crore acquisition of Karkinos Healthcare Private Limited, a Mumbai-based oncology-specialized healthcare company. Karkinos focuses on early cancer detection and treatment, collaborating with 60 hospitals and establishing a cancer hospital in Imphal (Manipur).

The acquisition of Karkinos by Reliance Industries highlights a broader consolidation trend in the healthcare sector, which helps the company offer a more diversified set of solutions and tap into new revenue streams. Further, such investments reveal that private companies are increasing their stake in the Indian healthcare industry, especially in critical areas like cancer treatment.

JV Ventures-backed IXP Rolls Out INR 200 Crore Fund to Invest in Early-Stage Biotech Startups

February 2025 saw another key healthcare investment news with IXP (Innovation Acceleration Platform), a Hyderabad-based firm that invests in early-stage life sciences businesses, announcing the launch of its first investment fund called the IXP Lifesciences Catalyst Fund. This fund has INR 200 crore to invest, with an extra INR 100 crore greenshoe option. 

The goal of this fund is to help 20 to 25 small companies that are just starting, from pre-seed to Series A stages. These companies will work in areas like biotechnology, medical technology, medicine, and health products, aiming to fill gaps or create new products and services in these fields. Thus, the fund is projected to provide much-needed financial support to early-stage biotech companies, which is poised to positively impact the biotechnology market.

Tata Capital Healthcare Fund’s USD 20 Million Strategic Investment in Harsoria Healthcare

In alignment with the ‘Make in India’ movement, Tata Capital Healthcare Fund (the private equity arm of Tata Capital focused on healthcare and life sciences) invested USD 20 million (around INR 174 crore) in Harsoria Healthcare Pvt. Ltd., a leading medical device manufacturer headquartered in Gurgaon. The fund's diverse portfolio includes investments in pharmaceuticals, diagnostics, digital healthcare, and specialty healthcare services, with major investments including Linux Laboratories, dialysis chain Apex Kidney Care, and Deeptek Inc, among others. 

The financing round, reported in January 2025, saw participation from the LNB Group, a leading diversified business conglomerate, and other prominent investors. Harsoria intends to use the fresh capital to expand its manufacturing capabilities, fuel business development, and boost R&D efforts. The investment is expected to be channelled towards devising affordable medical devices for both Indian and international markets. As a growing player in the global medical devices market, Harsoria’s expansion could have a ripple effect on the entire sector, which is anticipated to grow at a CAGR of 6.2% during the forecast period 2025-2034.

To sum up, India’s position as the world’s most populous country explains the growing healthcare needs and investor enthusiasm. With private healthcare investments on the rise, public sector support is also keeping pace. The 2025 Union Budget’s allocation of INR 95,957.87 crore to the healthcare sector for FY26 shows the government’s commitment to strengthening the system. Thus, public and private investments together are setting the stage for a healthier future for India.