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Bangladesh unrest cuts India's medical tourism revenue by up to 35%

India sees sharp fall in Bangladeshi medical tourists in FY25 as regime change and visa curbs hurt Apollo and Manipal revenues; recovery expected only by FY26

The deadly unrest in Bangladesh, which prompted India to recall its staff from Dhaka high commission and temporarily halt visa issuance there, has dealt a blow to medical tourism back home.
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The decline in Bangladeshi patients is significant, as 70–75 per cent of medical visas issued by India are to Bangladeshi nationals, ICRA highlighted

Shine JacobSohini Das Chennai/Mumbai

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Political unrest in Bangladesh, the rise of a government seen as unfriendly to New Delhi, and worsening bilateral ties appear to have hit India’s medical tourism sector hard. Revenues from Bangladeshi patients have declined by 30–35 per cent in 2024–25 (FY25). Bangladesh typically accounts for 70–75 per cent of all medical visas issued by India, analysts said.
 
Anuj Sethi, senior director at Crisil Ratings, told Business Standard: “Medical tourism revenues from patients in Bangladesh arriving in India for treatment are estimated to have dropped by 30–35 per cent in FY25 due to regime change and political unrest in Bangladesh, mainly