Domestic players to cash in on demand of herbal products abroad

After yoga, it is time for Indian herbal product manufacturers to make their presence felt in the foreign land. And as the United States (US) looks towards herbal products to improve its ranking in Wellness index, major Indian players in the ayurveda sector are going all out to cash in on this growing demand abroad.

As a part of their business strategy, various major ayurevda firms from Kerala, Tamil Nadu, Karnataka, and Northeastern States successfully showcased their products’ healing aspects at the three-day Indo-American Wellness Conclave and Exhibition (IAWCE), 2018 at California’s Santa Clara Convention Centre in the US which concluded on Sunday.

Besides American wellness companies, a large number of Indian firms like Kerala Ayurveda, Dabur and AIMIL Pharmaceuticals took part in the summit that provided an opportunity for India to prove its credentials in ayurveda, said one of the participants. The discussion topics were based on India’s traditional Wellness regime such as Ayurveda, Yoga, Siddha, Unani, Naturopathy, and Homeopathy.

Besides, showcasing different products related to ayurveda, yoga, herbal and natural medicine, the participants also reached out to global leaders by presenting the efficacy of ayurvedic products for the diseases particularly related to lifestyle like diabetes whose cases are on increase in the US as in India, he said.

Usually, diabetes drugs are first developed by developed countries and then sold in India. However, this is for the first time that indigenously-developed anti-diabetic drug BGR-34 has been showcased to the US market, he added.

Executive Director of AIMIL Pharmaceuticals, Sanchit Sharma, one of the participants pointed out that “to improve its ranking in wellness index, the USA is looking to herbal products, and it is a matter of pride. We have huge scope to make our presence feel in the US market.”

A spokesperson of the IACWE said, “We must make a shift to natural ways of living and Ayurvedic pharmacy to keep our body in the state of wellness. We’ve noticed that though there are many people working in these industries, they barely have a clear picture of how herbal and natural treatments and healthy lifestyle as described in Ayurveda impact our lives.

“Also, many startup manufacturing companies in America fall short of expertise and funds which eventually result in failures. Therefore, we hope that the Conclave and Exhibition would help people communicate with each other efficiently.”