Export potential of AYUSH sector is Rs 200 crore: Minister
The Dollar Business Bureau In view of the growing global demand for the medicinal and aromatic plants, there is a need to promote agri-entrepreneurship in Medicinal and Aromatic Plant (MAP) cultivation in India. This was stated by Harsh Vardhan, Union Minister for Science & Technology and Earth Sciences on April 12, 2015. Highlighting India’s potential of becoming leading supplier in the MAP sector, the Minister informed that the government’s efforts are underway in encouraging research and development of credible products of MAP, in view of the sector’s global demand. “India is already a big player in the international market for medicinal and aromatic plants. The government is giving technological support through enhanced R&D. The future is very bright,” the Minister said. The Minister further stated that growing global demand for an alternative medicine backed by a surge in number of practitioners of the same, has created a huge market for the MAP sector. He further informed that the domestic market of Ayurveda, Yoga and Naturopathy (AYUSH) is estimated to be Rs 500 crore and exports from the sector account to around Rs 200 crore. The improved varieties of medicinal and aromatic plants developed by Council of Scientific & Industrial Research (CSIR) and Central Institute of Medicinal and Aromatic Plants (CIMAP), spread across an estimated area of 300,000 hectares, annually produce oils and medicinal herbs valued about Rs 2500 crores. With this production, the sector generates about 6 crore employment opportunities every year, he added. This just constitutes only a fraction of India’s total potential in the sector, he said and reiterated the government’s commitment in providing a bigger place for the AYUSH in the Indian Health Care sector. While highlighting the North-East as the region with great potential of MAP development, the Minister urged the scientists to focus on development of improved agro-technologies and plant varieties for sustainable cultivation, besides production of quality raw materials of economic importance. The Minister referred to the user industries, especially, pharma, perfumery and cosmetic manufacturers, as the main thrust areas to focus for a better procurement of raw materials from the cultivated source.
This article was published on April 13, 2015.