Government supporting the growth of the Ayurveda products market: Ayush industry reaches $18.1 billion (2020-21)

Government supporting the growth of the Ayurveda products market: Ayush industry reaches $18.1 billion (2020-21)

Report published by Forum on Indian Traditional Medicine (FITM) under Research and Information System (RIS) for Developing Countries – ‘Ayush Sector in India: Prospects and Challenges’ published in 2021 has estimated the Ayush industry size in 2020-21 at $ 18.1 billion. Copy of the above mentioned report can be seen at https://www.ris.org.in/en/node/3307.

The details of the key drivers of this growth in the Ayurveda products market; and the manner in which Government is supporting the growth of the Ayurveda products market are as follows:

1. Ministry of Ayush has implemented “Central Sector Scheme for Promotion of International Co-operation in AYUSH” for promoting exports, under the various components which are as follows:

2. Further, for facilitating exports of Ayush products, Ministry of Ayush encourages following certifications of AYUSH products as per details below:-

3. In 2021, Ministry of Ayush has implemented Central Sector Scheme, Ayush Oushadhi Gunvatta Evam Uttpadan Samvardhan Yojana (AOGUSY) and the total financial allocation to this scheme is Rs. 122.00 crores for 05 years. The components of AOGUSY scheme are as follows –

4. Government of India has established Pharmacopoeia Commission for Indian Medicine & Homoeopathy (PCIM&H), as its subordinate office. PCIM&H on behalf of Ministry of Ayush lays down the formulary specifications and Pharmacopoeial Standards for Ayurveda, Siddha, Unani and Homoeopathy (ASU&H) drugs/ medicines, which serve as official compendia for ascertaining the quality control (identity, purity and strength) of the ASU&H drugs, included herein, as per the Drugs & Cosmetics Act, 1940 and Rules 1945, thereunder and compliance to these quality standards are mandatory for the production of ASU&H drugs being manufactured in India.

5. Ayush Export Promotion Council (AYUSHEXCIL), is a newly formed Export Promotion Council (set up by Ministry of Ayush and supported by Ministry of Commerce, Government of India), launched at Global Ayush Investment and Innovation Summit held in Gandhinagar, Gujarat on April 20, 2022).  It is aimed to oversee exports of products of Ayurveda, Homoeopathy, Siddha, Sowa Rigpa and Unani systems and address trade issues pertaining to these sectors. It mandates to facilitate capacity building of its members on export procedures, organize business to business meetings, international events, road shows, seminars and workshops on the export of Ayush products and to safeguard the scientific research in the field of Ayush healthcare.

This information was given by Union Minister of State (I/C) for Ayush, Shri Prataprao Jadhav in a written reply in Rajya Sabha today.

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