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Ayurveda to Become a Rs. 50,000 Crore Industry by 2025

In Business, Health
November 24, 2018

Governor of Kerala, Justice (Retd) P Sathasivam, has expressed hope that Ayurveda would become a Rs 50,000 crore industry by 2025. He was speaking at the valedictory session of the Global Ayurveda Summit 2018 organised by the Confederation of Indian Industry (CII).

The Governor said that Ayurveda has grown to become renowned all over the world, by responding positively to health problems. “The National Health Policy, 2017, has given priority to mainstreaming indigenous medicine systems. Indian medicine systems such as Ayurveda are getting a policy boost,” the governor added.

He called upon the industry to take advantage of the growth in demand by standardising ayurvedic medicine, establishing quality control mechanisms and leveraging digital systems. Sathasivam also called for more avenues for research in indigenous systems of medicine.

The Governor complemented Kerala for taking a lead role in modernising Ayurveda. Major Ayurvedic hospitals in the state have a wing for Research and Development and Quality Control, he noted. The Kerala model in wellness tourism that blends traditional medicine, natural beauty and cultural affinity should be replicated in other states, he added.

Dr D C Katoch, Advisor – AYUSH, Government of India in his keynote address said that the Central government has been providing exclusive policy support for Ayurveda. He noted that a new ecosystem for Ayurveda is coming up due to the efforts of the government.
Dr E T Neelakandhan Mooss, Director, Vaidyaratnam Oushadhasala Pvt Ltd in his address said that the Summit will have a positive impact on the Ayurveda industry. The science of Ayurveda has started getting global attention and this is the right time for holding such summits, he added.

Dr S Sajikumar, Chairman, CII Kerala State Council & Managing Director, Dhathri Ayurveda Pvt Ltd welcomed the gathering. In his address he assured that the CII will work towards creating meaningful outcomes out of the deliberations held at the Summit. The Summit with the theme Mainstreaming Ayurveda through Start-ups and Brand, aimed at creating a paradigm shift in core Ayurvedic industries using technology as an enabler, to meet the increasing demand for Ayurveda.

Towards this end, various sessions were held on a range of topics such as entrepreneurship, policy formulation, skill development, branding, and scaling up the industry to meet the global demand. Representatives from all segments of the Ayurveda industry from across the world, government officials, entrepreneurs, educational institutions and industry bodies took part in the deliberations. The Summit provided a unique platform for industry leaders to interact and exchange ideas.

An exhibition of Ayurvedic products and services was also held as part of the Summit. Another highlight of the summit was Ayurstart, a first-of-its-kind startup competition in the field of Ayurveda.