Ayurvedic medicines have huge growth potential in the global market, especially in the post-pandemic period. Amiable export promotion for Ayurvedic products and health
tourism can make India a healthcare sanatorium of the world.
The indian traditional medicines have huge export potential in the post-pandemic world market. Naturally, the prevailing climate offers India’s AYUSH products and services huge export opportunities all over the world. The Ministry of AYUSH, in cooperation with the Ministry of Commerce and Industry, has proposed to set up an Export
Promotion Council (AEPC) for medicines and products of Ayurveda, Homoeopathic, Siddha, Sowa Rigpa and Unani systems and services. The government has given the Federation of Indian Chambers of Commerce and Industry (FICCI) the responsibility as a nodal agency for the Ministry of AYUSH to coordinate with other industry bodies and companies to develop a corpus for the formation of AEPC as per the guidelines of the Ministry of Commerce.
The export of Ayurvedic products takes place under the Indian Trade Classification based on Harmonized System of Coding (ITCHS) through two HS codes – 30039011 for medicants and 30049011 for medicaments. The export of products of Unani, Siddha and Homoeopathic systems takes place through HS codes-30039012, 30039013, and 30039014 (medicants) and 30049012, 30049013, and 30049014 (medicaments) respectively. Now most of the products of Ayurveda, Homoeopathic, Siddha, Sowa Rigpa and Unani systems, Herbal Products and Medicinal Plant products are not identified under specific HS Codes (International Harmonised Commodity Description and Coding System) Meanwhile, taking a holistic approach to the health sector, the government has allocated ₹2,23,846 crore for health and wellbeing expenditure in 2021-22 with a focus on strengthening three areas such as preventive, curative, and wellbeing. Additional provisions also have been made for COVID vaccination, drinking water and sanitation, nutrition.
