PM Modi: AYUSH sector has increased to over USD 18 bn from USD 3 bn in 2014

Gandhinagar: Prime Minister Narendra Modi while inaugurating the Global AYUSH Investment and Innovation Summit in Gandhinagar said that the AYUSH sector has increased to more than USD 18 billion with unprecedented growth in the production of AYUSH medicines, supplements, and cosmetics.

The Prime Minister said, "We are already witnessing unprecedented growth in the production of AYUSH medicines, supplements, and cosmetics. In 2014, where the AYUSH sector was less than USD 3 billion, today it has increased to more than USD 18 billion." 

He said that the Ministry of AYUSH has taken several major steps to encourage a startup culture in the field of traditional medicines. A few days back an incubation center developed by the All India Institute of Ayurveda has been inaugurated, informed PM Modi.

Describing the current age, the era of unicorns, the Prime Minister informed that in the year 2022 itself, so far 14 start-ups from India have joined the Unicorn Club.

"I am sure unicorns will emerge from our AYUSH start-ups very soon", he hoped. Noting that the production of medicinal plants can be a good means of increasing the income and livelihood of the farmers and the scope of employment generation in this, the Prime Minister highlighted the importance of a facility to easily connect with the market for the farmers involved in the production of medicinal plants. For this, the government is also working on modernization and expansion of AYUSH e-marketplace," said the Prime Minister.

India is a treasure trove of herbal plants, it is, in a way our 'Green Gold', said the Prime Minister stressed.

PM Modi said that the idea of the Global AYUSH Investment & Innovation Summit came to him during the time of the pandemic when Ayush provided strong support for improving the immunity of the people and Ayush products saw surge of interest and demand.

Recalling Indian efforts to tackle the pandemic, the Prime Minister noted the promise shown by the modern pharma companies and vaccine manufacturers if they get investment at the right time. "Who could have imagined that we would be able to develop the COVID vaccine so soon?", he asked.

In his address, PM Modi said that the possibilities of investment and innovation in the field of AYUSH are limitless. "We are already witnessing an unprecedented boom in the production of AYUSH medicines, supplements, and cosmetics," added the Prime Minister.

The Prime Minister of Mauritius Pravind Kumar Jugnauth and Dr Tedros Ghebreyesus, Director-General, World Health Organization (WHO), Union Ministers Mansukh Mandavia, AYUSH Minister Sarbananda Sonowal, Minister of State for Woman and Child Development Munjapara Mahendrabhai and Chief Minister of Gujarat Bhupendrabhai Patel were present on the occasion.

The three-day summit will witness plenary sessions, roundtables, workshops, and symposiums, with the presence of around 90 eminent speakers and 100 exhibitors. The Summit will help uncover investment potential and give a fillip to innovation, research and development, the start-up ecosystem, and the wellness industry. It will help bring together industry leaders, academicians and scholars together and act as a platform for future collaborations. (ANI)