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Global Ayush Investment and Innovation Summit 2022

 

Global Ayush Investment and Innovation Summit UPSC: Relevance

  • GS 2: Development processes and the development industry —the role of NGOs, SHGs, various groups and associations, donors, charities, institutional and other stakeholders.

 

Global Ayush Summit 2022: Context

  • Recently, Ministry of Ayush has organised the Global Ayush Investment and Innovation Summit from 20-22 April 2022 at Mahatma Mandir, Gandhinagar, Gujarat to seek investments into the sector that has been rapidly expanding in the post-COVID world.

 

Global Ayush Investment and Innovation Summit 2022: Key points

  • The Summit will drive rich content while advocating global understanding of Ayush education, research, innovation, entrepreneurship and sustained health across all Ayush systems.
  • The Summit seeks to develop India as the hub for traditional medicine practices, which will guide the world towards attaining better health and lifestyle.
  • The Summit sought to spark dialogue around the opportunities for Ayush in boosting the Medical Value Travel to India.
  • Special focus was on inclusion of medicinal plants in supply chain management.
  • The Summit focussed on the need to utilize modern technology to validate the sector of Ayush, while keeping intact its foundational spirit.

 

UPSC Current Affairs

 

Potential of Ayush sector: Why invest in Ayush?

  • The government budget in the sector has increased over four times from Rs. 691 crores in 2014 to Rs. 3050 crores in the last budget.
  • Market size of Ayush sector has grown by 17% p.a. from 2014 to 2020.
  • Ayush sector has witnessed a significant growth from USD 3 billion in 2014 to more than USD 18 billion.
  • Various countries including Columbia, Mexico, Cuba, Germany, Jamaica, Kyrgyzstan and Thailand, committed themselves to increase their collaboration with the Ministry of Ayush.
  • Companies such as Amul, Dabur India, Kama Ayurveda and others have committed to bring about synergy between the Ayush sector and the FMCG industry.
  • Ayush Products (Dietary, Lifestyle, Pharma) and Services (Medical Care, Wellbeing) are poised to be the next mega growth sector.
  • With no restrictions on Foreign Direct Investments (FDI), Ayush sector has tremendous growth potential.

 

UPSC Current Affairs

 

National Ayush Mission (NAM)

  • About: National AYUSH Mission (NAM) is a flagship scheme of the Ministry of AYUSH, launched in 2014.
    • National AYUSH Mission is a Centrally Sponsored Scheme of the Union Government.
  • Implementation: National AYUSH Mission (NAM) launched during 12th Plan for implementing through States/UTs.
  • Mandate: NAM aims to promote AYUSH medical systems through-
    • Cost effective AYUSH services,
    • Strengthening of educational systems,
    • Facilitate the enforcement of quality control of Ayurveda, Siddha and Unani & Homoeopathy (ASU &H) drugs and
    • Sustainable availability of ASU & H raw materials.
  • Increase in Budget: under National Ayush Mission (NAM), the Union budget 2022-23 has Increased the Budget amount, up to Rs 800 Crore. The NAM had earlier received a budget of Rs 500 Cr.
  • Expected Benefits: It will help Ayush Ministry in-
    • The up-gradation of its hospitals and dispensaries,
    • Support cultivation of medicinal plants and
    • In many other areas including an increase in export of value-added items of medicinal plants.

 

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