National seminar on entrepreneurship and business development in Ayurveda held in New Delhi

The seminar was organised by Ministry of AYUSH in association with NITI Aayog with the aim of encouraging entrepreneurs and Ayurveda stakeholders towards businesses opportunities in the sector

Minister of State for AYUSH Shripad Yesso Naik and Minister of State for Culture and Environment and Forest Dr Mahesh Sharma addressed the inaugural session of the two day ‘National Seminar on Entrepreneurship and Business Development in Ayurveda’. This seminar is being organised by Ministry of AYUSH in association with NITI Aayog at Dr Ambedkar International centre, New Delhi, with the aim of encouraging entrepreneurs and Ayurveda stakeholders towards businesses opportunities in the sector.

Addressing a large gathering Naik said that forming institutions and giving them funds is not enough to develop Ayurveda industry. He said that in the last four years the Ministry of AYUSH has taken several initiatives to promote Ayurveda industry and striving to link it with Prime Minister Narender Modi’s revolutionary programmes like ‘Start up India’, ‘Make in India’, ‘Invest in India’ and ‘Digital India’.

The AYUSH Minister informed that the ancient Scriptures of Ayurveda have at least 1.25 lakhs formulations which are collected in traditional knowledge digital library. Each one of these formulations can be used to treat 20 to 30 different diseases. In this way, we have 20 lakh medicines which is an incredible and unimaginable figure for entrepreneurs.

Dr Sharma said that Ayurveda is a part of our rich cultural heritage and we have to propagate it not only in India but all over the world.

Vaidya Rajesh Kotecha, Secretary, AYUSH said that the ministry has taken up the challenge of increasing the market share of Ayurveda to three fold by the year 2022. He said, “We are working with Ministry of MSME to organise 50 entrepreneurship development programmes in next one year in different cities covering all the states across the country. Similarly to sensitise the Ayurveda fraternity, especially the young people, we are also in close cooperation with Industry Chambers like FICCI, CII, PHD Chambers and ASSOCHAM etc. to achieve this goal.”

Nearly 800 participants from across the country participated in the main function.

“The seminar is expected to develop awareness among stakeholders about the business opportunities, encouraging young entrepreneurs to use of modern technologies and modern innovations in business development in the sector and to highlight opportunities at global level. The experts in marketing, finance management, innovation, telemedicine, the policy makers, experts in start-up as well as experienced entrepreneurs in Ayurveda pharmaceuticals and hospital industry will guide and share their experiences with the participants. The deliberations in the seminar are expected to educate the young entrepreneurs about the various possibilities of business development in Ayurveda sector, how to use the technology and the ease of business being facilitated by the government for promoting their business in the field of Ayurveda.