PHDCCI: Domestic and International trade in AYUSH medicine: Issues & Challenges
AYUSH Committee, PHD Chamber in association with Ministry of AYUSH, Govt. of India organized a webinar on Domestic and International trade in AYUSH medicine: Issues & Challenges.
The webinar was graced with the presence of the Chief Guest, Dr. Manoj Nesari, Advisor, (Ay) Ministry of AYUSH, Govt. of India.
The other eminent dignitaries present were Mr. Pradeep Multani, Sr. Vice President, PHD Chamber, Mr. Ashish Dixit, Sr. Manager, Regulatory Affairs, Dabur India Limited, Dr. Anurag Gupta, Manager, Regulatory Affairs, Shree Baidyanath Ayurved Bhawan Pvt Ltd, Dr. Vikas Punetha, Manager Regulatory Affairs, Amway India Enterprises Private Limited, Mr. Arvind Varchaswi, Chair, AYUSH Committee, PHD Chamber & Managing Director, Sri Sri Tattva, Mr. Jitender Sodhi, Co- Chair, AYUSH Committee, PHD Chamber & Managing Director, AYUSH Herbs Pvt Ltd and today’s session moderator, Mr. Vivek Seigell, Assistant Secretary General, PHD Chamber.
While welcoming all the eminent dignitaries, Mr. Pradeep Multani said that having no FDI limits, this sector has massive potential for exponential growth, especially in times of public health crisis. Mr. Multani emphasized that there is an increase in popularity, usage, and exports of AYUSH products amidst the pandemic. AYUSH products are mostly organic by-products of plants and have low manufacturing costs as compared to allopathic drugs. As a result, the treatments methods and medicines have been able to reach the masses. The growing global interest in traditional medicine and herbal products has been driving growth in trade in related products. With the surge in exports and growing international popularity of Ayurveda calls there is a need for industry players to improve their quality standards and cost competitiveness.
Mr. Arvind Varchaswi mentioned that the future of Ayurveda is looking fabulous as more and more players are entering the market with innovative products, quality packaging, and strategic marketing activities. He further added that the demand for AYUSH products and services has increased tremendously during covid-19 pandemic. The spurt in exports of AYUSH products in recent years is a direct reflection of its growing popularity in many countries and hence the trade and commerce in the AYUSH sector needed to upscale quickly in order to meet the growing demands from India and abroad. He further said that it is very much important to bring the matter of education also along with the drugs to promote the Ayush system internationally.
Dr. Manoj Nesari appreciated the efforts of PHD Chamber in organizing various relevant programs with the industry. He said that it is very much important to bring the matter of education also along with the drugs & services to promote the Ayush system internationally.
Dr. Nesari mentioned various problems where Industry can work on like developing the products with specific target disease conditions second is TB as also one of the major problems where Ayush has major potential and industry should really need to work on that and third is Anti-microbial resistance where AYUSH industry has to work on products which can be given as standalone along with antibiotics. Dr. Nesari said that if we come out with such solutions there will be a huge scope of AYUSH system domestically and internationally.
Dr. Vikas Punetha talked about the challenges in the sectors like regulatory process, quality control, and advocacy assistance. He emphasized the need to educate the masses about the usage and correct dosage of consumption of each ayurvedic drug and the need to standardize the quality checks of raw materials of ayurvedic products.
Dr. Anurag Gupta mentioned that there’s utmost need for spreading awareness about the various herbs available in the AYUSH sector domestically as well as globally which will help to increase its consumption at the same time help to bust some myths about ayurvedic medicines.
Mr. Ashish Dixit shared a brief presentation on issues and challenges of domestic and international trade in AYUSH medicines. He said that pandemic has made the world realize the importance of health, immunity, wellbeing where people want it in a natural way. Ayurveda can be the mainstream medical system with the upsurge in credibility. While mentioning the trade challenges, he said that the Ayurveda system of medicine is not in the education system, lack of awareness of Ayush medicine, and availability of Ayush practitioners; infrastructure and credibility are the major points to consider. He further said that the AYUSH export promotion council can play a key role and there is a need to streamline the registration process.
Mr. Jitender Sodhi proposed a formal vote of thanks to all the dignitaries present for sparing their valuable time and knowledge with the industry. He further said that trends in exports of herbal medicines, classes of herbal products, etc. should be analyzed to re-orient Indian production to the requirements of international demand.
The webinar was sponsored by the Ministry of AYUSH, Govt. of India, the Association of Manufacturers of Ayurvedic Medicine (AMAM), and AYUSH Herbs Private Limited. The webinar was also attended by more than 70 delegates from the Industry and academia.
PHDCCI’s Webinar was supported by DLF India; Multani Pharmaceuticals; UFLEX; JK Tyre & Industries; Marble City; Paramount Cables; SMC Investments and Advisors; Blossom Kochhar Aroma Magic; Comtech Interio; DCM Shriram Industries; Radico Khaitan; R.E. Rogers India; Ajit Industries; Synergy Environics; Continental Carriers PVT LTD; Timberworkz; Easy Trip Planners Limited; Jindal Stainless; Modern Automobiles; P S Bedi & Co; IFFCO and Hindware.
