The trade of Ayush products has witnessed a remarkable growth rate, soaring from $2.85 billion to a staggering $18.1 billion over the course of seven years, said Ayush Minister Sarbananda Sonowal during the B20 meeting held in Surat on July 1. The meeting took place as part of India’s G20 Presidency, highlighting the exponential expansion of the Ayush industry.
In his address, Minister Sonowal highlighted several measures that have been undertaken to tap into the untapped potential of Ayush wellness tourism in India. He emphasized the importance of reforming the Ayush education system, amending the Drugs, Medical Devices, and Cosmetics Act, and promoting integrated research to make the system more dividend-based. Additionally, efforts are being made to strengthen the Ayush wellness infrastructure through the national Ayush mission.
The recent notification of 31 Indian standards related to Ayush by the Bureau of Indian Standards (BIS) is expected to further augment international trade in this sector. These standards include guidelines for 30 herbs and one Ayush product, ensuring the quality of products and services, instilling confidence in manufacturers, and benefiting consumers by reducing costs, enhancing performance, and improving safety.
The Ayush industry has emerged as one of the fastest-growing sectors within the Indian economy. It not only provides a platform to promote Indian healthcare services globally but also unlocks numerous business opportunities in the healthcare industry. The creation of a separate Ministry of Ayush in 2014 has played a pivotal role in propelling the sector’s growth, with budget allocations witnessing a remarkable six-fold increase over the past eight years.
Recently, the Ministry of Ayush collaborated with the Ministry of Commerce and Industry to establish an Ayush Export Promotion Council to amplify Ayush exports.
