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Top 10 countries accounted for India's 63% of Ayush and herbal products export in 2023-24
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Gireesh Babu, New Delhi
May 11 , 2024
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The top 10 destinations led by USA, Germany and Italy accounted for almost 63.3 per cent of India's Ayush and herbal products during the fiscal year 2023-24. Exports to these 10 countries together stood at $412 million, with a growth of 5.10 per cent compared to the $392 million exports to top 10 destinations during the year 2022-23, according to data from the Centre.
The top 10 export destinations for the Ayush and herbal products from India during the fiscal was USA ($183.30 million), Germany ($62.63 million), Italy ($36.20 million), China ($27.93 million), United Arab Emirates ($25.11 million), France ($16.21 million), United Kingdom ($16.18 million), Nepal ($15.68 million), Australia ($14.97 million), and Russia ($13.77 million), in that order.
During the fiscal year 2022-23, the position was almost similar with the USA ($171.78 million), Germany ($57.62 million), and Italy ($36.20 million) in the top three positions. The rest of the top export destinations were United Arab Emirates ($26.80 million), China ($26.91 million), France ($119.6 million), United Kingdom ($16.28 million), Russia ($16.48 million), Nepal ($14.55 million), and Netherland ($13.13 million). It may be noted that the Netherlands is not in the top 10 list this year, while Australia, which is in the ninth position now, was not in the top 10 list last year.
In Rupee terms, the exports to the top 10 destinations during the fiscal 2023-24 is at Rs. 3414.24 crore, as compared to Rs. 3149.06 crore during the previous year.
As reported earlier, India's export of Ayush and herbal products has reported a growth of 3.6 per cent during the fiscal year 2023-24, at $651.17 million as compared to the same period of previous year, registering a below-five per cent growth for the second consecutive year.
The country reported exports of 10.63 crore kilograms of Ayush and herbal products during 2023-24, as compared to 12.25 crore kilograms of exports during the previous year. In terms of value, it has gone up from $628.54 million in 2022-23, according to data from the Directorate General of Commercial Intelligence and Statistics (DGCI&S). The year 2022-23 registered a growth of 2.68 per cent in exports, from $612.12 million in the previous year.
The country has seen exports shooting up in two years during the fiscal years 2020-21 and 2021-22, before reporting a lower growth rate, according to official data. During 2020-21, the sector registered a growth of 26.12 per cent growth in exports, to $539.88 million from $428.08 million exports reported during the previous year. The exports then reported a growth of 13.38 per cent in 2021-22, at $612.12 million, says data from the Centre.
It may be noted that the growth in terms of exports also were the years when the world went through the Covid-19 pandemic. The Ministry of Ayush has earlier claimed that the consumption of Ayush products, especially for health and wellness, has gone up during the time of the pandemic. The government also took initiatives to promote the systems of medicine with emphasis on its impact on improving the immunity and health of the users.
The Ministry of Ayush has established Ayush Export Promotion Council (Ayushexcil) to promote Ayush products and services globally by the Ministry of Ayush and supported by the Union Ministry of Commerce. It was officially launched at Global Ayush Investment and Innovation Summit held in Gandhinagar, Gujarat on April 20, 2022, and aimed to oversee exports of products of Ayurveda, Homoeopathy, Siddha, Sowa/Rigpa and Unani systems and address trade issues pertaining to these sectors.
| India's Ayush & Herbal export to top 10 destinations 2023-24 | | Country of | Unit | Qty (KG) | Value in | Value in | | Destination | | | Rs Crore | US$ | | U S A | KGS | 20224053 | 1518.65 | 183.31 | | GERMANY | KGS | 7465772 | 519.62 | 62.64 | | ITALY | KGS | 3488783 | 300.29 | 36.2 | | CHINA P RP | KGS | 15754009 | 231.2 | 27.94 | | UAE | KGS | 5007470 | 208.26 | 25.11 | | FRANCE | KGS | 2474570 | 134.44 | 16.22 | | U K | KGS | 1742421 | 134.16 | 16.18 | | NEPAL | KGS | 1784520 | 129.78 | 15.68 | | AUSTRALIA | KGS | 1696364 | 124 | 14.97 | | RUSSIA | KGS | 2305048 | 113.83 | 13.77 | | | | | | |
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| Source: DGCI&S |
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