Ayush industry witnessing 7 times growth: Modi

2 min read . Updated: 11 Dec 2022, 09:46 PM IST Priyanka Sharma

PM Narendra Modi during the inauguration of three National Ayush Institutes at the valedictory function of 9th World Ayurveda Congress, in Goa, Sunday. (PTI) — PM Narendra Modi during the inauguration of three National Ayush Institutes at the valedictory function of 9th World Ayurveda Congress, in Goa, Sunday. **(PTI)**

The current global market for herbal medicine and spices is about $120 billion, said Modi

NEW DELHI : Ayush Industry which was about ₹2000 crore about eight years ago has reached about ₹1.5 lakh crore witnessing 7 times growth. The current global market for herbal medicine and spices is about 120 billion dollars, said Prime Minister Narendra Modi on Sunday while delivering in the valedictory ceremony of the 9th World Ayurveda Congress (WAC) at Panjim, Goa.

Prime Minister talked about new opportunities in the field of Ayurveda such as farming of herbs, manufacturing and supply of Ayush medicines, and digital services.

“There is huge scope for Ayush startups in these areas. About 40,000 MSMEs are active in the Ayush sector. Ayush Industry which was about ₹2000 crore about eigth years ago has reached about ₹1.5 lakh crore today. This means that there has been 7 times growth in 7-8 years", he said.

He also elaborated on the global growth of the sector and said the current global market for herbal medicine and spices is about 120 billion dollars or rupees l0 lakh crore.

“This sector of traditional medicine is expanding continuously and we have to take full advantage of its every possibility. For the rural economy, a whole new sector of agriculture is opening up for our farmers, in which they will also get very good prices. Thousands and lakhs of new jobs will be created for the youth in this," PM said while quickly adding that Ayurveda is not just about treatment, it also promotes wellness.

PM Modi virtually inaugurated All India Institute of Ayurveda in Goa, National Institute of Unani Medicine in Ghaziabad, and National Institute of Homoeopathy at Delhi.

Modi said, “We need to continuously work toward the documentation of ‘Data Based Evidence’, we had Ayurveda’s results as well as effects in our favour, but we were lagging behind in terms of evidence. Our medical data, research, and journals have to be brought together to verify every claim on modern scientific parameters. The world is now returning to our traditional medicine and Yoga and Ayurveda are the new hope for the world.

More than 30 countries have recognized Ayurveda as a traditional medicine system and we have to further promote Ayurveda in every country of the world, Modi said.

Earlier this year, the World Health Organisation established the first and only Global Centre for Traditional Medicines in Jamnagar.

“WHO was full of praise for India’s efforts in the field of traditional medicine. The world is celebrating International Yoga Day as the global festival of health and wellness. There was a time when Yoga was looked down upon but today, it has become a source of hope and expectations for the whole of humanity", he said.

ABOUT THE AUTHOR

Priyanka Sharma

Priyanka Shamra is a health and pharma journalist with nearly nine years of field reporting experience. She is a special correspondent with Mint. Her beat includes covering the Ministry of Health and Department of Pharmaceuticals. She also covers the Ministry of Women and Child Development and the Department of Biotechnology.