Gujarat’s ayurvedic industry ranks fourth
15-Apr-24 04:51:05
Ahmedabad: Gujarat-based Ayurvedic manufacturers are capitalizing on the growing global demand for ayurvedic medicines and products by focusing on increasing their exports. India’s ayurvedic manufacturing industry revenue estimated at approximately Rs 1.50 lakh crore annually and Gujarat holds a significant 12% share.
Uttar Pradesh is the top contributor, followed by by Kerala, Maharashtra then Gujarat.
Speaking at a seminar organized by the Gujarat Ayurved Aushadh Manufacturers’ Association (Gaama) in Ahmedabad on Saturday, Vaidya Rajesh Kotecha, secretary of Ayush ministry, said, “India has seen a significant increase in the ayurveda medicine segments in the last few years. Govt has made the efforts to boost the industry through various schemes aimed at industry facilitation and ease of doing business, including reduced compliances for obtaining a licence. Gujarat has around 850 ayurveda manufacturing units, which is 10% of India’s total 8,500 units.”
The post-Covid era has witnessed a rise in demand for Ayurvedic products domestically and internationally, presenting an opportunity for manufacturers to expand their market reach. The Indian govt has recognized this potential and introduced various schemes to support the ayurvedic manufacturing sector, aiming to enhance the quality and competitiveness of Indian ayurvedic products globally.
Gaama president Hardik Ukani said, “The demand for ayurvedic medicines has shot up domestically and globally since Covid. Immunity booster medicines have witnessed strong demand in the last few years. The ayurvedic sector is growing at 17% annually. Gujarat-based ayurvedic companies are targeting export markets in a big way.”
He added that the domestic market is growing steadily but over the years, competition has increased significantly in the domestic market so companies are eyeing exports market for faster growth. “Over the years, manufacturing processes have improved and we have set the standard for quality so there are more opportunities in exports to various countries. Also, acceptance of ayurvedic and alternative medicines is increasing globally,” Ukani said.
With its strategic focus on the ayurvedic sector, Gujarat is well-positioned to capitalize on global interest. Manufacturers in the region are enhancing their production capabilities and aligning with international standards to meet the growing demand. The trajectory of the ayurvedic industry’s growth suggests a promising future for exports, contributing to the overall expansion of India’s traditional medicine market on the world stage.
SOURCE & CREDIT: THE TIMES OF INDIA