India’s stance has gradually shifted from welfare state to that of capitalist economy owing to winds of privatization and liberalization. An attempt is made in this paper, how the healthcare sector has responded to these trends of neoliberal capitalism. The trends seem to suggest that healthcare sector, once primarily served by public and charitable hospitals and private clinics and viewed as service oriented institutions, have been commercialized to the extent of assuming the structures and functioning as streamlined business with corporate culture on par with any other industry, trade and commerce with an emphasis on economic performance and economic efficiency to maximize returns for the corporate stakeholders. With rise in lifestyle diseases and incidence of epidemics and pandemics, the sphere of healthcare, which also includes diagnostics, medical insurance and other auxiliary services, has come to be the dominant player in the service sector in India, still growing at an exponential rate. This trend toward corporatism in healthcare is further accentuated by the rise in medical tourism, of which India is the most sought-after destination. Healthcare industry in India now-a-days is dominated by the listed companies having chains of hospitals in every area of medical specialty, managed professionally like streamlined corporate bureaucratic entities, devoid of ethos and ethics of medical profession (service) which is inherently inimical to delivery of affordable and inclusive healthcare. The paper, based on the survey of reports and factual accounts concludes that healthcare in India, which was once spearheaded by socially embedded institutions guided by socialist and philanthropic ethos has come to assume the structure of an aggressive and competitive industry, profiteering from sickness, owing to the winds of commercialization and corporatism sweeping through this sector of immense public interest.