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Ayush manufacturing industry grows six times in seven years: Ministry of Ayush
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Gireesh Babu, New Delhi
April 25 , 2024
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The Ayurveda, Yoga and Naturopathy, Unani, Siddha, Sowa-Rigpa and Homoeopathy (Ayush) manufacturing industry in the country has registered around six times growth in seven years from the year 2014-15, since the upgradation of the Department of Ayush to the Ministry, and the growth is expected to continue owing to reforms completed for Ease of Doing Business (EoDB) by leading Ayush manufacturing states.
A latest report by the Ministry of Ayush on the developments in the segment in the last 10 years from 2014 to 2024, claims that the Ayush industry has witnessed considerable growth in market size since the upgradation of the Department of Ayush to the Ministry of Ayush in the year 2014.
"Ayush manufacturing industry was Rs. 21,697 crore ($2.85 billion) in 2014-15 and in the latest study of RIS of 2020, the Ayush manufacturing industry size has been estimated at Rs. 1,37,800 crore ($18.1 billion) that is 6 times rise in 7 years," said the report quoting a study by the Research and Information System for Developing Countries (RIS). There has been an eight times rise between 2014 to 2022, it added.
Similarly, preliminary study shows that the Ayush market size is $43.4 billion, which is around Rs. 3.6 lakh crore. Out of this Rs. 1.93 lakh crore is manufacturing and Rs. 1.67 lakh crore is services, it added.
The Ministry of Ayush signed a Memorandum of Understanding (MoU) with the Ministry of Micro, Small & Medium Enterprises (MSME) for the promotion of Ayush enterprises. As per latest data from the Ministry of MSME, Udyam Portal, the number of MSMEs in Ayush has grown up from 38,216 in August, 2021 to 53,023 in January, 2023, it said.
As part of EoDB and reducing compliance burden, the government has allowed 100 per cent Foreign Direct Investment in Ayush sector through an automatic route and the drug license for setting up manufacturing for ASU drugs is made swift, paperless and more transparent by bringing the application system online through E-Aushadhi, it claims.
The license of the ASU drugs has been made perpetual i.e. with one-time registration fee the license of the product will be valid lifetime subject to online submission of self-compliance declaration every year- significantly improving EoDB.
Leading Ayush manufacturing states including Uttar Pradesh, Himachal Pradesh, Karnataka, Kerala, Madhya Pradesh, Uttarakhand, Gujarat Punjab, Rajasthan, Tamil Nadu and Telangana have successfully completed the EoDB reforms.
"With investment facilitation through industrial/investment policies and location of industrial hubs, states have created a strong ecosystem for product manufacturing. Several states also enjoy the strategic advantage of location of allied industries of Ayush services and raw materials," said the Ministry quoting an RIS report 'Ayush Sector in India: Prospects and Challenges'.
In order to reduce compliance burden with regard to Drugs & Cosmetics Act 1940 & Rules, 1945, Ministry of Ayush did thorough analysis of the Rules, Forms and Schedules under Drugs & Cosmetics Rules, 1945. After analysis, 35 compliances were identified as reviewable/possible to be eased out. Out of these 35 compliances, 23 such identified compliance pertaining to ASU drugs were eased out and have already been published in the official gazette on October 1, 2021 and the same has been updated on the regulatory compliance portal of Department for Promotion of Industry and Internal Trade (DPIIT).
Parallelly, the Startup ecosystem has also gained momentum in the Ayush sector. There are 900 DPIIT-recognized startups (as of December 2022) in this rapidly growing sector. These startups are not only coming from Metro cities, but also from Tier2 & 3 cities (52% of these recognized startups are from Tier 2/Tier 3 cities), representing the penetration of Ayush and its deep-rooted cultural heritage, combined with modern entrepreneurial opportunities available in the sector.
In addition to capitalizing on the immense potential of this sector domestically and across the world, these startups have also helped in the creation close to 8,500 jobs. Ayush Startup grand challenge was launched as an initiative to encourage and empower Ayush start-ups, said the Ministry.
To promote entrepreneurship leveraging the academic knowledge, the All India Institute of Ayurveda (AIIA) an autonomous body under Ministry of Ayush has set up an incubation centre i.e. AIIA-ICAINE (Incubation Centre for Innovation and Entrepreneurship) to nucleate a cluster of new age ventures.
Central Council for Research in Siddha (CCRS) have set-up the incubatory cell namely Academia-industry Research Incubation for Value-chain Up-gradation (ARIVU) to promote innovation and entrepreneurship by translating novel ideas and innovation in various disciplines of Siddha Research, into products, processes and services for commercial exploitation and the benefit of society.
CCRS has an MoU with Accelerating Growth of New India Innovation (AGNIi) for the commercialization of R&D technologies and products, it added.
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