Call for creation of Ayurvedic startups that combine traditional wisdom with new approaches

There is a need to build an emerging Ayurvedic ecosystem that will help combine traditional wisdom with innovative approaches, said speakers at the two-day Global Ayurveda Summit, which began in Angamaly on October 26. said.

The summit, held on the sidelines of the 10th International Conference on Kerala Health Tourism 2023, is hosted by the Confederation of Indian Industry (CII) in collaboration with the Government of Kerala and the Ministry of AYUSH. The focus theme of the summit is ‘Mainstreaming Ayurveda through Branding, Research, Artificial Intelligence and Startups’.

Kicking off the summit virtually, former Kenyan Prime Minister Raila Amoro Odinga praised Ayurveda practitioners in Kerala and said his daughter, who had suffered an aneurysm and was partially blind after surgery, was admitted to an Ayurvedic Eye Hospital. He said he regained his eyesight after undergoing treatment. state. This was after his daughter was taken to Israel, China and Germany for her treatment, but to no avail.

“The hospital’s treatment techniques, expertise and holistic approach not only saved her life, but also greatly improved her overall health. This experience gave me a deep respect for Ayurveda. “It instilled confidence in me,” he said, stressing the need to foster partnerships between India-based Ayurveda practitioners and African health service providers.

Former Omani Health Minister Dr. Ahmed Mohamed Obaid Al Saidi said in an online address that Kerala is an established medical hub where people from over 50 countries come for treatment. He said there is huge scope for cooperation between Oman and India in this area, adding that affordable healthcare is the best way forward.

Dr. S. Sajkumar, Managing Director of Dhatri Ayurveda Private Limited, spoke about how Ayurveda means business. The value of AYUSH products has been steadily increasing from $18 billion in 2020 and is expected to reach $24 billion this year. We need to combine AI and genomic technologies to build an Ayurvedic and Ayurtech startup ecosystem to enable evidence-based Ayurvedic solutions. The synergy between AI and Ayurveda has the potential to revolutionize the industry and create a new era of precision, consistency and effectiveness in Ayurvedic product manufacturing, he added.

Dr Marthanda Pillai, chairman and managing director of Ananthapuri Hospital and Research Institute in Thiruvananthapuram, said Tamil Nadu attracts about 50 per cent of medical tourists entering the country, followed by Maharashtra and the National Capital Region. Told. “Medical tourists can easily capture an estimated 10-15% of the market by 2030, although the market share in Kerala is 5-7%,” he said.

Venu Rajamoney, former Indian ambassador, said there are few places in the world that have global connectivity like Kerala and states should take advantage of this. “The world is diverse and the markets in the Americas, Europe, Africa and Asia are all different. We need to learn from this example and see what we need to do to attract more medical-value travelers than we do today,” he added.

Dr PM Varrier, chief physician and director of Arya Vaidyasala, Kottakal, said branding sets quality standards which are key to entrepreneurship.

Patient from Bangladesh

The speakers said that few were aware that Bangladesh contributes the largest share of India’s health tourism sector (more than 30% of patient numbers and about 50% of revenue). Despite Kerala’s reputation in medical value tourism and the strength of Ayurveda, the state has not fulfilled its potential in developing this market, they said. Bangladesh High Commissioner (Commerce) Minister Dr AKM Atiqul Haque said that Kerala should hold continuous promotional activities in Bangladesh to attract medical tourists from Bangladesh to the state. Stated.