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Scheme to boost export of herbal medicines

By Our Special Correspondent

CHENNAI July 4. The National Bank for Agriculture and Rural Development (NABARD) and the Export-Import Bank of India have come up with schemes to enable product development and export marketing of herbal medicines.

According to senior officials of the institutions, who participated in the two-day International Herbal Expo and Seminar, which began here today, NABARD has identified 12 medicinal plants having a potential for commercial exploitation in Tamil Nadu. NABARD is ready to finance non-government organisations for research and development including preparation of package of practices, problem-solving in existing projects and technology for value addition to herbs and medicinal plants. As for the Exim Bank, exporters, it was stated, could take advantage of its export marketing service under which the payment risk was borne by the bank.T.C. Venkat Subramanian, Managing Director, and K. Muthukumaran, General Manager, of Exim Bank of India, and B. Sethuraman, Deputy General Manager, NABARD, made presentations.

The exposition and seminar, sponsored by the Exim Bank of India and the Voluntary Health, Education and Rural Development Society , is organised by Zak Trade Fairs and Exhibitions. "Road Beyond Boundaries", published by the Exim Bank and featuring, among other things, regulatory frameworks in world markets for herbal medicines and nutraceuticals and specific market characteristics, is to be released on Sunday by the Kanchi Sankaracharya, Sri Jayendra Saraswati.

Inaugurating the Expo, the Union Minister of State for Commerce, Vidyasagar Rao, called for promotion of organic farming. L.V. Saptharishi, Additional Secretary, Commerce Ministry, asked exporters to adopt strategies to overcome trade barriers put in place by developed countries. A.Raja, Union Minister of State for Health and Family Welfare, who inaugurated the seminar, drew attention to the services offered by the National Medicinal Plants Board. T. Tapak, Minister of State for Health, Arunachal Pradesh, said his State with vast herbal resources had constituted medicinal plants board.

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