Sector Overview

The Ayush industry in India is currently undergoing a significant transition. Buoyed by the growing global and domestic demand and enabled by strong support to regulatory, R&D, and backend infrastructure by the Ministry of Ayush, the sector has shown tremendous growth in the last few years.  With a turnover of US$ 18.1 billion in 2020, the market size of the Indian Ayush industry as a whole has grown by 17 percent during 2014-2020. During the same period, different product segments have grown at a much higher rate than the overall industry. The wide acceptability of Ayurveda, along with other traditional medicinal practices, has given a shot in the arm to the Ayush sector globally. The India Ayush sector is estimated to have a market size of USD 23 billion by this year. Ayush healthcare services play an important role in the healthcare ecosystem and hold substantial potential to channel the socio-economic dimensions of the country. Extensive research, training, and teaching are undertaken in each of the systems to facilitate their growth and contribute significantly to the public healthcare outcomes of the country.

FICCI's Engagement

FICCI has been working extensively in the Ayush sector since past many years now and has constituted a Committee tasked with offering expertise and guidance by proposing policy and regulatory reforms within this domain. The committee plays a crucial role in advocating for policy changes, promoting research and development, organizing conferences, seminars, and workshops, and collaborating with government and industry stakeholders to enhance the growth and acceptance of AYUSH practices both nationally and internationally.

Some of the key initiatives undertaken by the FICCI Ayush Committee include:

• FICCI Ayush Committee works towards establishing collaborations and partnerships on a global scale.
• The committee provides recommendations to relevant authorities to improve and streamline policies for the benefit of Ayush practitioners, manufacturers, and consumers.
• The committee emphasizes the importance of research and development in Ayush practices.