Growth in the AYUSH market during a public health emergency

Over the next five years, the AYUSH market, which is already valued at a staggering 10 billion USD, is expected to grow by an astonishing 50%. This industry has enormous potential for exponential growth due to the lack of FDI restrictions, particularly during periods of public health emergencies. India is positioned to be a worldwide leader and is expected to experience an outstanding 50% increase over the course of the next five years thanks to a strong foundation in ancient Ayurveda and large use of ayurvedic medications. On November 9, 2014, the Ministry of AYUSH (Ayurveda, Yoga & Naturopathy, Unani, Siddha, and Homeopathy) went into effect. Together, the Ministries of AYUSH and of Commerce and Industry decided to establish the Ayush Export Promotion Council (AEPC) in order to promote Ayush exports. The Ayush Minister stated in a statement that trade and commerce in the Ayush sector must expand quickly to satisfy the continuously rising demands from India and beyond, and that the sector's goal is to collaborate to achieve price and quality competitiveness to increase AYUSH exports. Less than 40% of India's overall US$2.2 billion export potential for herbal plants and extracts is currently being used. India's AYUSH industry has enormous export potential. The industry of herbal plants and extracts has an estimated US$ 2.2 billion in export potential. However, at the moment, this potential is not being used to its fullest extent. Less than 40% of the expected potential in the sector is represented by the US$830 million in current exports. Due to the fact that AYUSH businesses in India are quickly catching up in terms of product development and value addition, the remaining untapped potential can be effectively utilised.

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