Ways to increase India's share in the USD 100 billion Herbal medicine market and integrating Ayurveda with Health Tourism besides wooing large-scale private investment will be discussed at a three- day global Ayurveda Summit, beginning here on Wednesday.
China's corners 85 per cent of the world herbal medicine market and India should aim for at least 25 per cent share, R. Sathish, Director and Head CII Kerala, and Dr. Joy Verghese T, Chief Executive officer, Confederation for Ayurvedic Renaissance (CAReKeralam) told reporters here.
India's export turnover in herbal medicine is presently Rs 4200 crore, with Kerala contributing Rs 500 crore. A 15 to 20 per cent growth is needed, they said. Ayurveda has immense business potential globally and there was need to encourage large-scale private investment, the summit organisers said.
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The summit, being jointly organised by Confederation of Indian Industry, in association with the Kerala Government and Department of AYUSH, Government of India, will also be exploring ways to use Information Technology to achieve extensive documentation of Ayurveda practices and a national data base, Mr. Sathish said.
Union Minister of state for Health and Family Welfare, S. Gandhiselvan, state Health minister, P. K. Sreemathi, S. Gopalakrishnan, CEO and Managing Director Infosys Technologies Ltd, and Deputy Chairman CII Southern Region, will be among those participating.
About 500 delegates, 100 of them from abroad, will also take part.
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