Gujarat To Play Pivotal Role In Ayurvedic Sector
17-Apr-24 05:12:48
As Indian Ayurvedic Products Market Crosses Rs 1.55L Cr Mark, Gujarat Adds Around 150 Ayurvedic Mfg Units In Last Three Years
As the Indian Ayurvedic products market crosses Rs 1.55 lakh crore mark in the year 2023-24 and projected to soar to Rs 3 lakh crore by 2028, Ayurvedic manufacturing market in Gujarat is set to play a major role in this growth saga.
The growth is projected due to a robust CAGR of 16 per cent for the period of 2024-2030, stated Gujarat Ayurved Aushadh Manufacturers Association (GAAMA) -- An apex body of Gujarat’s Ayurveda industry.
On the sidelines of GAAMA UDAAN 2024 held in city, GAAMA President Hardik Ukani said, “There are around 8,000 Ayurvedic manufacturing units in India of which 850 units are in Gujarat alone which makes it the fourth largest states in the country with around 15 per cent market share.”
Ukani, who is also MD of Vasu Healthcare Pvt Ltd, added, “In last three years, Gujarat has added around 150 Ayurvedic manufacturing units. Gujarat may be at fourth rank in manufacturing, but it’s in the top three in exports.”
Uttar Pradesh (UP) is on top followed by Kerala and Maharashtra in number of Ayurvedic manufacturing units. While the Ayurveda sector in India is increasing at a consistent rate of 17 per cent annually, Gujarat has emerged as a vital contributor to both export and domestic sales within the industry, stated the Association.
Ukani said, “With the help of the Ministry of Ayush, MoUs have been signed with 46-odd countries, including the European, Middle-East and Asian countries, for using Indian Ayurvedic medicine. Therefore, events like GAAMA UDAAN 2024 are organized with the aim to propel globalization of Ayurvedic medicine.”
Attended by esteemed Ayurvedic industrialists, policymakers, and civil society representatives, the event served as a vibrant platform to deliberate on the challenges, opportunities, and future scope of the Ayurvedic industry.
Secretary of the Ministry of Ayush, Government of India, Vd. Rajesh Kotecha was the chief guest, while Dr Gnanvatsal Swami from BAPS Swaminarayan Sanstha was also present at the event.
At the event collaboration with key stakeholders, including government agencies like AYUSHEXIL and trade associations, remains pivotal in identifying and tapping into new export markets for Ayurvedic medicines.
In last three years, Gujarat has added around 150 Ayurvedic manufacturing units. Gujarat may be at fourth rank in manufacturing, but it’s in the top three in exports
–Hardik Ukani, GAAMA President
SOURCE & CREDIT: AHMEDABAD MIRROR