Resurgence in the global demand for AYUSH and Herbal products

Resurgence in the global demand for AYUSH and Herbal products

On the occasion of Ayurveda Day celebrations, Ministry of AYUSH is organising First National Summit on Invest in AYUSH at Ambedkar International Centre, New Delhi on 4th November, 2018. The summit is to encourage public sector undertakings (PSUs) under different Ministries/Departments of the Government and private companies to invest in AYUSH. NITI Aayog and Department of Industrial and Policy and Promotion are the partner organisations of this first National summit in AYUSH.

A preparatory meeting for the summit was organised on 16th October 2018, which was presided by union Minister of State (Independent Charge) for AYUSH Shri Shripad Yesso Naik. On this occasion Shri Naik said that Ministry has taken many new initiatives to increase the market size of AYUSH and we are in close cooperation with Industry Chambers like FICCI, CII, PHD Chambers and ASSOCHAM etc. to achieve this goal. He appreciated the initiatives taken by these chambers by constituting Ayurveda or AYUSH committees to give special emphasis on AYUSH sector.

The AYUSH Minister also said that Ministry of AYUSH has signed MoU with Ministry of Micro Small and Medium Enterprises (MSME) to develop entrepreneurs in AYUSH sector and to strengthen the existing AYUSH Industry sector including manufacturers of AYUSH drugs, cosmetics, food supplements, hospital industry, etc. He further said that we will be working with MSME to organize 50 Entrepreneurship Development Programs in next one year in different cities covering all the states across the country.

The Minister also said that the Ministry has taken a challenge to create one lakhs job opportunities in AYUSH Sector under the Champion Sector Scheme as devised by Union Cabinet and the Ministry is working with Commerce Ministry to support non-government sector to establish many international standard Ayurveda and other AYUSH Hospitals.

The Minister further added that the ministry is also developing horizontal integration with other Ministries of Government of India. He said that Ministry of railways has agreed to set up AYUSH wing in 5 railway hospitals. Likewise, Ministry of Health & Family Welfare, Home Ministry, Ministry of Defence, Ministry of Labour is also setting AYUSH wings in hospitals under their respective ministries. Shri Naik said that many PSUs have also come forward to set up AYUSH hospitals.

Ministry of AYUSH has taken many initiatives for promotion and propagation of AYUSH systems. There is growth of 15.38% in the number of patients treated with AYUSH systems of Medicine through AYUSH Hospitals and Dispensaries in last four years.

The Government of India has allowed hundred percent foreign direct investments in health sector. Due to resurgence in the global demand for AYUSH and Herbal products the total value of Export the AYUSH and Herbal products has increased to from USD 354.68 million in year 2014 -15 to USD 401.68 million in year 2016-17 in global market.