Urban market has developed a huge appetite for ayurveda medicines: Vicram Sharma, Baidyanath Group

economictimes.indiatimes.com:

Ayurveda medicine has got a boost after the Covid pandemic as more people focus on health and wellbeing and with increased government support for this branch of traditional medicine, according to Vicram Sharma, Director Baidyanath Group, a 100 year-old Ayurveda company that traces its existence to pre-independence India. Sharma who has also recently authored a book on the advantages of Ayurveda tells ET’s Mohit Bhalla that it is a misnomer that Ayurveda drugs do not undergo rigorous trials and testing. He says that the basic tenets of this ancient science based on the medical benefits of plants and herbs should be taught at schools so that indigenous knowledge is preserved and passed on. Edited excerpts…

The Government has provided impetus to traditional systems of medicine through its programs. What has been the impact?
The government has undertaken a slew of measures to promote traditional medicines both through the Ministry of Ayush as well as through other schemes.

That coupled with a resurgence of interest in holistic health and wellness as a result of the Covid pandemic, has given a quantum boost to the industry. In 2021, Ayurveda had a product market in India worth Rs. 51,000 crores and is projected to record 19.8% growth from 2022 to 2027.

The last few years have seen a veritable explosion of start-ups in the Ayurveda space.

The Ayurveda industry is dominated by some 40,000 MSMEs who account for more than 80% of the enterprises. Government support has taken the form of promoting awareness, financing research, funding start-ups as well as instituting vigilance and regulatory frameworks for manufacturing processes – all this has helped give Ayurveda greater credibility and reach. Of all the streams of traditional