AYUSH market grows from US$ 3 billion to US$ 18 billion

Tags: Economy/Finance National News

Union AYUSH Minister Sarbananda Sonowal addressing the 6th Confederation of Indian Industry-CII, AYUSH Conclave 2022 in New Delhi on November 23, 2022 said that under the leadership of Prime Minister Narendra Modi AYUSH market will grow from USD 3 billion to USD 18 billion level.

Important facts

• He was addressing the gathering at the 6th Confederation of Indian Industry, CII, AYUSH Conclave 2022 in New Delhi.

• He emphasised on how AYUSH can play a vital role in realising the dream of 'New India' by providing holistic health care and medical care to its citizens.

• Sonowal pointed out that several reforms are underway in research strategies, nature of practice and education, which will lead to growth in this field.

• He urged the new generation to study AYUSH systems in depth.

• The Ministry of AYUSH, in collaboration with the World Health Organization (WHO), has established a number of standards for the AYUSH system.

• These benchmarks will be beneficial for all the stakeholders, especially the industry related to AYUSH systems.

6th CII Ayush Conclave 2022

• The 6th CII Ayush Conclave 2022 was organised by Confederation of Indian Industry (CII) with the support of the Ministry of Ayush in New Delhi.

• Key stakeholders of the AYUSH system discussed topics such as regulatory roadmap, research and development in the AYUSH sector, branding, promotion and marketing of AYUSH products.

Confederation of Indian Industries (CII) 

• It is a business lobby group of top business houses in India.

• It was set up in 1895.

• It works to create and sustain an environment conducive to the growth of industry in India, partnering industry and government alike through advisory and consultative processes.

• Headquarters: New Delhi

• President: Sanjiv Bajaj