Worldwide there is a growing demand for Ayurveda and other traditional forms of medicine. In India, about 80% of the rural population uses medicinal herbs or indigenous systems of medicine.
It is estimated that nearly 960 plant species are used by the Indian herbal industry, and the turnover of the industry is more than Rs 80 billion. Herbal exports include medicines of AYUSH (Ayurveda, Unani, Siddha, and homoeopathy) products, which occupy a share of almost 3% of total Indian pharmaceutical export. Thirty percent of the export comprises of finished products, including herbal extracts. However, India’s share in the global herbal export market is less than 1%. Although the AYUSH industry represents one of the oldest traditional forms of medicine in India, it has not been able to exploit the opportunities of the emerging market.
To this end, the present seminar will highlights the Govt. of India’s initiative to boost the Indian herbal drug industry and the problems faced with respect to production, commercialization and regulation of traditional or herbal drugs. Government of India has initiated the start-up scheme in India with the objective of supporting entrepreneurs, building a robust startup ecosystem and transforming India into a country of job creators instead of job seekers. There are many educated youngsters who want to be employers rather than employees. But lack of knowledge prevents them from taking advantage of such schemes in their field of education. Some of them are aware of these schemes but need guidance to comprehend processes, terminologies, documentation and regulatory parameters involved.
Our aim is to bring the future entrepreneurs under one umbrella and provide them knowledge related with start-up schemes in herbal drug industry, where there is very high demand for herbal products not only in India but also at an international level. In this one day seminar, we will bring experienced researchers and industrialists who will share their experience with pharmacy graduates and encourage them to get benefits of government schemes and become Job creators.