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.

 

 

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.

 

 

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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