India’s Ayush Strategic Policy and Facilitation Bureau under the guidance of the Ministry of Ayush, organises a round table conference on 'Ayush for the World: Harnessing Investable Opportunities'

In the round table conference organized by Invest India’s Ayush Strategic Policy and Facilitation Bureau under the guidance of the Ministry of Ayush, on 8th Feb, 2024 at Vigyan Bhawan, Delhi, the stakeholders of Ayush clearly stated that it is uniquely positioned to be India’s soft power for the World.

Speaking on the occasion, Vaidya Rajesh Kotecha, Secretary of the Ministry of Ayush, expressed optimism about the Ayush sector's growth, crediting the increasing number of entrepreneurs entering the field. He highlighted the importance of Ayush expanding beyond wellness to therapeutic wellness and underscored the need for Pharmacovigilance systems to ensure Ayush product safety.

Emphasizing India's substantial domestic market, Mr. Rajesh advocated for a focus on Medical Value Travel and mentioned the formulation of Ayush policies in specific states. He marked the abundance of skill sets, infrastructure, and teams within the Ayush sector, discussing various schemes and initiatives propelling the sector forward along with emphasizing the round-table's role in uniting industry leaders from Ayush drug manufacturing companies and sub-sectors like nutraceuticals and cosmeceuticals.

Addressing the vast research and development opportunities in Ayush, the Secretary urged the simplification of Intellectual Property Rights (IPR) processes. Dr. Tanuja Nesari, Director of AIIA, emphasized the global presence achieved through the establishment of GCTM and the transformative potential of technology in traditional medicine practices.

The round-table convened key figures in the Ayush sector, including Vaidya Rajesh Kotecha, Secretary of the Ministry of Ayush, Ms. Nivruti Rai, MD & CEO of Invest India, Dr. Tanuja Nesari, Director of AIIA, and Dr. Rabinarayan Acharya, DG of CCRAS. Their expert insights enriched discussions on Ayush's growth and global impact. The event facilitated a dynamic audience discussion, fostering diverse perspectives. Dr. Suruchi Mittar, Vice President of Invest India, delivered impactful closing remarks, summarizing key takeaways and reaffirming a commitment to advancing the Ayush sector. Together, these key figures played pivotal roles in exploring investable opportunities and reinforcing the sector's strategic importance.

Ms. Nivruti Rai, MD and CEO of Invest India, spoke on 'glocal': sourcing local, thinking and selling global. She underscored the need for India to align with the vision of 'Make in India' and 'Vocal for Local' initiatives, highlighting Invest India's pride in championing these initiatives for the Ayush sector.

The Round-table saw the presence of CXOs/leadership from key Ayush sub-sectors such as drug manufacturing, extracts/derivatives, nutraceuticals, cosmeceuticals, wellness & services, etc. Companies with the largest expansion plans, global supply chains, and the highest promise of domestic/global leadership graced the event, showcasing India & Ayush as the face of global health. The value chain was well represented in the event, with top players, right from the raw material stage to B2C players in attendance.

During the event, dignitaries representing the Ayush industry received insights and guidance on future opportunities across sub-sectors, Ayush’s global importance, and, most importantly, the urge to work closely with the Ministry of Ayush & Invest India to deepen & expand their investment projects in the sector. The emphasis was on investing in localized/high-quality supply chains, collaborating with global partners to cater to international demand, and seeking global investment into the sector’s infrastructure & manpower to make it future-ready. 

The event explored various investable opportunities & themes, domestic & global regulations, awareness, trust & evidence acceptability, as well as better global market amplification & access. It facilitated meaningful discussions, shared best practices, and matched global demand side themes with Indian supply side strengths to strengthen and grow Ayush in India for the world, paving the way for global investments.

Source- PIB