New Delhi, Feb 13 (IANS) Ayurveda is now legally recognised as a traditional medicine system in over 25 countries and the Indian Ayush sector’s market size has expanded from $3 billion in 2014 to $23.3 billion in 2022, at a CAGR of 17 per cent, according to Union Minister of State for Ayush, Prataprao Jadhav.
He said, “The expansion of Ayush-based medical tourism, facilitated by the Ayush Visa, has increased the number of international patients seeking treatment in India.”
Talking about Ayush’s popularity within the country, Jadhav cited the report of the National Sample Survey Office (NSSO) as part of the 79th round of the National Sample Survey (NSS) conducted between July 2022 to June 2023, that observed that 95 per cent of rural and 96 per cent of urban respondents are aware of Ayush
“Ayush exports have increased from $1.09 billion in 2014 to $1.54 billion in 2020. Over 900 DPIIT-recognised Ayush startups have emerged, with 52 per cent originating from Tier-2 and Tier-3 cities. Ayush treatments have been integrated in government hospitals, benefiting 5.4 crore patients,” he said in a recent reply in Rajya Sabha.
Highlighting the government policy of allowing Foreign Direct Investment (FDI) up to 100 per cent in the Ayush sector to encourage global investments, Jadhav said, “The sector’s growth has led to a boost in manufacturing and exports, with over 53,000 MSMEs receiving support.”
He said the Ministry of Ayush has established ‘Strategic Policy and Facilitation Bureau (SPFB)’, in collaboration with Invest India under Department for Promotion of Industry and Internal Trade (DPIIT) for strategic policymaking, investment facilitation, and stakeholder engagement to promote domestic and foreign investments.
Elaborating on efforts to promote Ayush, the MoS said the Ministry of Ayush organised the B2B Conference under the Shanghai Cooperation Organisation on Traditional Medicine in 2023 which generated investment interest worth Rs 590 crore.
–IANS
rch/rad
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
