Exports of Ayush (Ayurveda, Yoga, Naturopathy, Unani, Siddha, Sowa Rigpa, Homeopathy) medicines and herbal products from the country reported an increase of 1.65 per cent in the first 10 months of the current fiscal year. According to official data, the growth rate in January was 14.54%, the highest monthly export growth rate this fiscal year.
Total Ayush and herbal medicine exports in the first 10 months stood at $527 million, compared with $518 million in the same period last year, supported by an increase in exports in December, according to Commerce Ministry data. , 2023 and January 2024. Exports in December 2023 increased by 5.11% to $58 million, compared to $55 million in the same month last year.
Ayush and herbal medicine exports were $63 million in January, compared to $55 million in the same period last year. This is the highest monthly growth rate during the financial year, starting from April 2023, when the export value of the category decreased by 14.40% to $43 million compared to $51 million in the same period last year.
Imports in January were reported to be $8 million, down 14.21% compared to $9 million in the same month last year. The import value for the first 10 months of the financial year was $100 million, an increase of 3.72% compared to the import value of $97 million reported for the 10 months to January 2023.
Imports reported an increase in April (43.56%), August (4.22%), September (23.88%), November (32.42%) and December (23.82%), but in May (- 1.8%), reporting a decrease in June. During the year, it was (-24.38%), July (21.47%), and October (-8.08%).
During the fiscal year, the United States was the top importer of Ayush and herbal products from the country, with $152 million, followed by Germany ($46 million), Italy ($29 million), China ($24 million) and Arab United Arab Emirates ($20 million). ($1 million), Nepal, the United Kingdom, France, Australia (approximately $13 million each), and Russia ($11 million).
According to official data from the Ministry of Industry and Commerce, in the first 10 months of the financial year, exports to the top five countries amounted to $270.3 million and imports from the top five countries amounted to about $70.8 million.
India imports the most Ayush and herbal products from Germany ($23 million), Vietnam ($20 million), Nepal ($17 million), Indonesia ($6 million) and Australia ($5 million). ) etc.
As previously reported, overall exports of medicines and medicines in January were reported at $2.13 billion, an increase of 6.84% compared to $1.99 billion in the same month last year. For the 10-month period from April 2023 to January 2024, pharmaceutical exports reported a growth of 8.07% to $22.53 billion compared to $20.85 billion in the same period last year.
