The Indian domestic market for AYUSH is estimated to be Rs 500 crore, while exports amount to Rs 200 crore
For the first time ever, luminaries from across the world met in Delhi to discuss the strengthening and scientific validation of traditional systems of medicine.
The four-day event — International Arogya 2017 — is hosting 1,500 delegates from across 60 countries. India is the world's second largest exporter of medicinal plants after China and both countries together produce more than 70 per cent of the total global demand for herbal products, a whitepaper launched at the event notes.
The event will see discussions around Ayurveda, Yoga, Unani, Siddha, Homeopathy (AYUSH), Naturopathy, and ancient Tibetan practice of medicine — Sowa-Rigpa. The Indian domestic market for AYUSH is estimated to be Rs 500 crore, while exports amount to Rs 200 crore.
Suresh Prabhu, Minister of Commerce & Industry said, "With a wealth of 6,600 medicinal plants, India is the second largest exporter of AYUSH and herbal products in the world. We now have an opportunity to bring the Indian system of medicine in the mainstream, and integrate the AYUSH infrastructure into the Indian healthcare system. This infrastructure consists of 1,355 hospitals with 53,296-bed capacity, 22,635 dispensaries, 450 undergraduate colleges, 9,493 licensed manufacturing units, and 7.18 lakh registered practitioners. We want to tap the maximum potential of AYUSH systems in imparting preventive, promotive, and holistic healthcare to the people."
Shripad Yesso Naik, Minister of State (Independent Charge), Ministry of AYUSH, said, "An agreement has been signed with the World Health Organization (WHO) to develop benchmarks for Yoga, Ayurveda, Unani and Panchkarma. Five AYUSH information cells have been set up in Israel, Tajikistan, Peru, Russia, and Tanzania."
More than 250 manufacturers of alternative medicine are showcasing their products and services at the International Arogya 2017. A whitepaper released in the event notes that India is the second largest exporter of Ayurvedic and alternate medicines to the world and has the potential to generate three million job opportunities. The Indian herbal market is valued at Rs 5,000 crore currently, with an annual growth rate of 14 per cent. More than 30,000 branded and 1,500 traditional AYUSH products are available in the country.
PROMISING
- India is the 2nd largest exporter of Ayurvedic and alternate medicines and has the potential to generate 3 mn jobs. The Indian herbal market is valued at Rs 5,000 crore, with an annual growth rate of 14%. About 30,000 branded and 1,500 traditional AYUSH products are available in India.
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