Union Ayush Minister Shri Sarbananda Sonowal informed that AYUSH has grown by 17 percent in 2014-20 to reach US dollars 18.1 billion. The Minister was speaking at the inauguration of ‘AYUR-UDYAMAH’ at New Delhi, where he also released the RIS report titled ‘AYUSH Sector in India: Prospects and Challenges.
AYUSH Grows from US$ 3 Billion to US$ 18 Billion- Key Points
- On the occasion, the All-India Institute of Ayurveda – Incubation Centre for Innovation and Entrepreneurship (AIIA ICAINE) the first-of-its-kind incubation center under the Ministry of Ayush to promote Start-ups was also launched.
- AIIA ICAINE was launched by the Union Minister of Food and Processing Industries Shri Pashupati Paras Ji.
- As per the Research and Information System for Developing Countries (RIS) report, despite a slump in economic activity in 2020 due to the pandemic, the industry is projected to reach US$ 20.6 billion in 2021 and US$ 23.3 billion in 2022.
- In terms of the global share, India has grown faster in the AYUSH market as compared to the world and accounts for about 2.8 percent of the market, which is likely to hold even though disruptions in production are not ruled out.