Financialisation of the health sector
The case of public–private partnerships in India
Bibliographic Data
| ID | 21721773 |
|---|---|
| Authors | Madhurima Nundy (0000-0003-3986-4431, Global Business School for Health, University College London, UK, corresponding author), Rama Baru (0000-0002-0131-4242, Jindal School of Public Health and Human Development, O.P. Jindal Global University, Sonipat, India) |
| Year | 2026 |
| Publication date | 2026-07-08 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Global Social Policy (JOURNAL) |
| Journal identifiers | ISSN: 1468-0181 • E-ISSN: 1741-2803 |
| Publisher | SAGE Publications (PUBLISHER • US) |
| DOI | 10.1177/14680181261462490 |
| OpenAlex | W7167791951 |
| Language | EN |
| References cited | 27 |
This paper traces the evolution of public–private partnerships (PPPs) in India’s health sector during the past four decades. These partnerships have been transformed because of their engagement with commercialisation and financialisation. Drawing on political economy frameworks and policy analysis, it argues that PPPs cannot be understood as technical instruments. They are institutional expressions of broader neoliberal reforms that reshape the role of the state and expand market influence in health systems. The paper identifies four phases of neoliberalism in India — pre-liberalisation, liberalisation, post-liberalisation, and more recently deepening of financialisation. In each of these phases there was a continuum of neoliberal ideas with introduction of new actors, organisational forms, and financial arrangements. While PPPs have expanded their outreach in some areas, it has led to fragmentation of the health services, widened inequities, and strengthened financial interests of the for-profit sector. The consolidation of financial interests has strengthened corporatisation of health services in India. The paper highlights the implications of this trajectory for universal health coverage and calls for renewed public stewardship to ensure equity and accountability in health service system delivery
Accountability · Corporate governance · Health care · Outreach · Politics · Public sector · Healthcare Systems and Reforms · Public-Private Partnership Projects · Social and Economic Development in India
Philanthrocapitalism, past and present
Introduction
Human resources for health in India
How shall we examine and learn about public-private partnerships (PPPs) in the health sector? Realist evaluation of PPPs in Hong Kong
The impacts of corporatisation of healthcare on medical practice and professionals in Maharashtra, India
The Implementation of RSBY in Chhattisgarh, India
Evidence-based Planning—A Myth or Reality
What the Good Doctor Said
Public-private partnerships in health care in India
Deconstructing the Financialization of Healthcare
Shrinking Spaces for the 'Public' in Contemporary Public Health
| Citation velocity | historical |
|---|---|
| Highly cited | No |