Ayurveda Gains Legal Recognition in 25 Countries: Insights from Ayush MoS Prataprao Jadhav
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Synopsis
Ayurveda is now officially recognized in 25 countries, with the market expanding significantly. The Ayush sector has seen remarkable growth, bolstered by medical tourism and government initiatives. This expansion is supported by an increase in awareness and investments in the sector.
Key Takeaways
- Ayurveda is recognized in over 25 countries.
- The Ayush sector's market grew to $23.3 billion.
- 95% of rural and 96% of urban populations are aware of Ayush.
- Ayush exports increased significantly between 2014 and 2020.
- Foreign investments in Ayush are encouraged by the government.
New Delhi, Feb 13 (NationPress) Ayurveda has received formal recognition as a traditional medicine system in more than 25 nations. The market size of the Indian Ayush sector has surged from $3 billion in 2014 to $23.3 billion in 2022, reflecting a compound annual growth rate (CAGR) of 17 percent, as reported by Union Minister of State for Ayush, Prataprao Jadhav.
He stated, “The growth of Ayush-based medical tourism, supported by the Ayush Visa, has led to a rise in the number of international patients traveling to India for treatment.”
Discussing the domestic appeal of Ayush, Jadhav referenced findings from the National Sample Survey Office (NSSO), part of the 79th round of the National Sample Survey (NSS), conducted between July 2022 and June 2023, which indicated that 95 percent of rural and 96 percent of urban respondents are familiar with Ayush.
“Ayush exports rose from $1.09 billion in 2014 to $1.54 billion in 2020. There are now over 900 DPIIT-recognized Ayush startups, with 52 percent emerging from Tier-2 and Tier-3 cities. Ayush treatments are now part of government hospitals, aiding 5.4 crore patients,” he said during a recent Rajya Sabha session.
Emphasizing the government’s policy to permit Foreign Direct Investment (FDI) of up to 100 percent in the Ayush sector to attract global investments, Jadhav noted, “This growth has significantly enhanced manufacturing and exports, benefiting over 53,000 MSMEs.”
The Ministry of Ayush has set up a Strategic Policy and Facilitation Bureau (SPFB) in collaboration with Invest India under the Department for Promotion of Industry and Internal Trade (DPIIT) to foster strategic policymaking, investment facilitation, and stakeholder engagement to bolster both domestic and foreign investments.
Detailing initiatives to promote Ayush, the MoS revealed that the Ministry organized a B2B Conference under the Shanghai Cooperation Organisation on Traditional Medicine in 2023, which generated investment interest totaling Rs 590 crore.
