According to Suresh Prabhu, Union minister of Commerce and Industry, the government is eyeing a three-fold increase in the AYUSH sector by 2022
The AYUSH industry is expected to grow in double digits and provide direct employment to 1 million people and indirect jobs to 25 million persons by 2020, Union minister of Commerce and Industry Suresh Prabhu said at the conference on wellness, Arogya 2017 in New Delhi today.
The government is eyeing a three-fold increase in the AYUSH sector by 2022.
“The Indian domestic market of AYUSH is estimated to be Rs 500 crore, while exports amount to Rs 200 crore. Young Indian entrepreneurs planning a start-up could find a lot of opportunities in holistic healthcare,” Prabhu said.
Prabhu said the government will be happy to work with all countries to create a good proposition wherein knowledge of traditional medicine can be transmitted to people, whereby a win-win situation can be developed.
Prabhu pointed out that the government has allowed 100 per cent foreign direct investment (FDI) in AYUSH, and highlighted the need for stakeholders to pool in their resources to harness the sector’s vast potential.
“With a wealth of 6,600 medicinal plants, India is the second largest exporter of AYUSH and herbal products in the world. We now have the opportunity to mainstream the Indian system of medicine and integrate the AYUSH infrastructure into Indian healthcare system,” Prabhu said.
The secretary in the AYUSH ministry, Vaidya Rajesh Kotecha, said the ministry is committed to increasing the size of AYUSH sector three-fold in the next five years.
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