Investments/ Developments

Some of the recent developments in the Indian AYUSH industry are as follows:

• On October 30, 2024, the Ayush Medical Value Travel Summit 2024 was inaugurated in Mumbai by the Union Minister of State (I/C), Ministry of Ayush, aiming to position India as a global leader in health tourism by promoting Ayush systems (Ayurveda, Yoga, Unani, Siddha, and Homeopathy) and enhancing accessibility through initiatives like "Desh ka Prakrutik Parikshan - Ghar Ghar tak Ayurved".
• On August 30, 2024, Chief Minister of Kerala Mr. Pinarayi Vijayan anannounced a Rs. 1,000 crore (US$ 119 million) investment over the past three years to develop Ayush infrastructure in the state, including an International Institute of Ayurveda Research and a new Ayurveda medical college, during the inauguration of the two-day Global Ayurveda Summit and Kerala Healthcare Tourism in Kochi.
• On September 27, 2024, the Indian government announced plans to include 170 AYUSH treatment packages in the Ayushman Bharat health insurance scheme (AB-PMJAY) and establish special medical stores at the tehsil level for easier access to traditional medicines.
• On September 30, 2024, Minister of Tourism in Goa, Mr. Rohan A. Khaunte, launched two unique Ayurveda Wellness Packages for international visitors at the All India Institute of Ayurveda (AIIA) in Dhargal, marking a significant step toward establishing Goa as a hub for wellness tourism. This initiative strengthens the existing Memorandum of Understanding (MoU) between the Department of Tourism and AIIA, aimed at promoting the rich traditional knowledge of Ayurveda and Yoga to global tourists.
• In January 2024, Union Ayush Minister Mr. Sarbananda Sonowal laid the foundation stone for the ‘Ayush Diksha’ centre in Bhubaneswar, a first-of-its-kind facility aimed at developing human resources for Ayush professionals, with a budget of Rs. 30 crores (US$ 3.58 million). This state-of-the-art centre, located within the Central Ayurveda Research Institute, will provide training programs, enhance skills, and support research in Ayurveda, contributing to an integrated approach to healthcare alongside modern medicine.
• On February 25, 2024, Prime Minister Mr. Narendra Modi inaugurated two significant AYUSH projects virtually, marking a milestone in India's journey towards holistic healthcare. The Central Research Institute of Yoga & Naturopathy in Jhajjar, Haryana, and the National Institute of Naturopathy titled 'NISARG GRAM' in Pune, Maharashtra were unveiled.
• The interim Budget allocation for 2024-2025 designates Rs. 14.63 crore (US$ 1.76 million) to the National Medicinal Plants Board and Rs. 20.80 crore (US$ 2.50 million) to the Pharmacopoeia Commission for Indian Medicine and Homoeopathy (PCIM&H).
• Chief Minister of Uttar Pradesh Mr. Yogi Adityanath highlighted the immense potential of the AYUSH medical system in transforming Uttar Pradesh into a leading health tourism destination. By efficiently implementing AYUSH practices, the state can not only offer holistic healthcare but also create substantial employment opportunities and significantly enhance farmers' incomes through AYUSH-based agriculture. The inauguration of 271 development projects, including integrated AYUSH hospitals and AYUSHman Arogya Mandirs, underscores the government's dedication to expanding and integrating traditional medical systems.
• On March 03, 2024, Union Minister of AYUSH and Ports, Shipping & Waterways, Mr. Sarbananda Sonowal, alongside Union Minister of Health & Family Welfare and Chemicals & Fertilizers, Dr. Mansukh Mandaviya, announced the establishment of AYUSH-ICMR Advanced Centre for Integrative Health Research (AI-ACIHR) at select AIIMS across the nation, alongside the launch of a multicentre clinical trial on Anaemia, Indian Public Health Standards for AYUSH healthcare facilities.
• On December 01, 2022, Three National Institutes of Excellence dedicated to Ayurveda, Unani, and Homoeopathy were inaugurated with the aim of providing top-notch education and research facilities in their respective disciplines.
• India's total AYUSH exports amount to US$ 1.26 billion till 2021, highlighting the country's strong position in the global market for traditional medicine systems.
• On November 22, 2022, the Ministry of Ayush introduced the "SPARK" fellowship program, marking the launch of the first national-level fellowship program supporting research in Ayurveda.
• On October 26, 2023, a significant milestone was achieved as 26 crore Ayushman cards (health insurance cards) were issued, facilitating broader access to healthcare services for the population.
• On September 15, 2023, the Ministry of Ayush granted approval for the "Ayurgyan Scheme" to foster research and development in AYUSH systems of medicine. This scheme focuses on providing grants for academic activities, training, and capacity building.
• On August 08, 2023, the National Ayush Mission finalized the approval process for upgrading 12,500 health facilities into Ayush Health and Wellness Centres, expanding the reach of AYUSH services nationwide.
• On July 12, 2023, the Ministry of Ayush launched the "e-Aushadhi" portal, an online platform facilitating the sale of authentic AYUSH medicines to enhance access to quality AYUSH products.
• On June 20, 2023, a collaborative effort between the Ministry of Ayush and the Ministry of Commerce and Industry led to the establishment of an AYUSH Export Promotion Council aimed at boosting the global export of AYUSH products and services.
• On April 12, 2023, the AYUSH mark was established by the Ministry of Ayush to ensure standardization and quality control of AYUSH products, as per the ministry's notification.
• On March 28, 2023, the National Medical Commission (NMC) approved a mandatory 3-month internship in AYUSH practices for MBBS graduates, enhancing their exposure to alternative medicine systems.
• On February 14, 2023, a collaboration between the Ministry of Ayush and the Ministry of Tourism was initiated to develop wellness tourism circuits, aiming to promote holistic well-being experiences for tourists.
• On January 19, 2023, the National Ayush Mission launched a nationwide campaign to raise awareness about AYUSH therapies and their benefits among the general public.
• On December 01, 2022, three National Institutes of Excellence dedicated to Ayurveda, Unani, and Homoeopathy were inaugurated, focusing on providing high-quality education and research facilities in their respective fields.
• On November 22, 2022, the Ministry of Ayush introduced the "SPARK" fellowship program to support research in Ayurveda, aiming to foster innovation and development in the field.
• In July 12, 2022, a Centre of Excellence for Research in Panchakarma was established through collaboration between the Ministry of Ayush and the All India Institute of Ayurveda, emphasizing research in this traditional therapeutic practice.
• In July 2022 (specific date unavailable), the National Pharmaceutical Pricing Authority (NPPA) set retail prices for 84 drug formulations to regulate pricing in the pharmaceutical sector.
• In June 2022, the Ministry of Ayush and the Ministry of Commerce and Industry joined forces to establish an AYUSH Export Promotion Council to boost the global export of AYUSH products and services.
• In November 2021, the National Medicinal Plants Board (NMPB) launched an online portal for seed and planting material of medicinal plants to facilitate access to resources for cultivation.
• On August 09, 2021, an amendment to the Drugs and Cosmetics Act was made to include provisions for regulating ASU (Ayurveda, Siddha, and Unani) drugs, ensuring quality and safety standards.
• In May 2021, a new scheme was introduced by the Ministry of Ayush to promote the cultivation of medicinal plants, emphasizing sustainable sourcing for traditional medicine production.