Exports to the EU, UAE, and Japan are particularly active, with markets in Malaysia, Southeast Asia, Taiwan, and other regions also emerging.
At the 2nd Traditional Medicine Conference “AYUSH Practices for Sustainable Health”, Guest of Honour Dr. Manoj Nesari, Advisor (Ay.), Ministry of AYUSH, Government of India spoke about the remarkable growth of the Ministry of AYUSH, backed by a series of initiatives and significant market expansion. In 2014, the market size for Ayurvedic products was around $3 billion. Research suggests that by 2021, the market size is expected to soar to $18.2 billion and reach $25 billion domestically. Exports are particularly strong to the EU, UAE and Japan, with markets in Malaysia, Southeast Asia and Taiwan also emerging.
He said this growth has been supported by a strong regulatory framework that often mirrors US standards and a holistic approach to isolating traditional medicine compounds. India has signed trade agreements with 20 countries and has adopted WHO standards and ISO regulatory approaches. Over the last decade, 40 international agreements have been signed, of which 32 were with various countries.
The introduction of AYUSH visa has boosted travel for medical purposes. Moreover, a government-sanctioned skill development programme, consisting of 12 modules listed by the Skills Council, focuses on genetic health and training the skilled talent pool. This includes 750 AYUSH institutes under the Life Sciences Skills Council. Efforts are underway to register AYUSH hospitals under Form C with the Ministry of Home Affairs, he added.
In her special address, Prof. Tanuja Manoj Nesari, Director, All India Institute of Ayurveda, spoke about how Ayurveda embodies timeless strength and the potential to meet the needs of all, especially in today’s rapidly changing world. With 173 countries exploring its benefits, it is clear that Ayurveda has been embraced globally. The “Heal in India” project by the Ministry of Health further highlights India’s commitment to promoting Ayurveda and traditional medicine, positioning India as a top destination for holistic health and medical tourism. “We are working with the Services Export Council to increase Ayurvedic exports,” she added.
