India exported herbal products worth $1,326 mn in three years, says govt

New Delhi: In a big boost to the Ministry of Ayush and herbal products manufacturers, the sector has registered a decent growth in the export of herbal products in the last 3 years. According to the latest report, the ministry has exported herbal products to the tune of $1,329.26 million in the last 3 financial years starting from 2014-15 to 2017-18 (upto September).

In a written reply to a question in Lok Sabha on Friday, Minister of State (I/C) for Ayush Shripad Yesso Naik said that the country exported 92,059.21 tonne of Ayush and herbal products with price value of $354.68 million in the financial year 2014-15.

The sector improved further in the financial year 2015-16 as the export figures of herbal products rose to 95,883.49 tonne and brought foreign exchange to the tune of $364 million, which is an increase of $9.32 million from the previous year.

The sector witnessed a huge jump of $37.68 million in the financial year 2016-17 after exporting 83,357.97 tonne of herbal products and fetching $401.68 million in comparison to previous year. "The Ayush and herbal products worth $208.90 million has already been exported in the financial year 2017-18 upto September 2017. The total volume of herbal products exported upto September stands at 42,270.03 tonne," the minister said.

Earlier in December, the Ayush Ministry in collaboration with Commerce Ministry and traders' body had organised Arogya-2017 to provide a global recognition of herbal products of the country.

During a roundtable meeting with traders, ayurvedic drug maker KK Sharma, who represents AIMIL Pharmaceuticals, had highlighted the issue of unavailability of quality raw materials for manufacturing of ayurvedic medicines and herbal products. The minister had assured all necessary support to promote herbal sector citing that the segment has potential to create employment opportunities for 26 million. According to Naik, the ministry offers incentives to Ayush industry under its central sector scheme for international cooperation to get market authorisation and registration for their products.