Opportunities & Challenges for Export of Ayurvedic Products to African Countries

Rajendra Kumar Jain
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Rajendra Kumar Jain: Profesor, Department of Management Studies Medi_Caps Institute of Technology & Management Pigamder, Near Rau Indore M.P. India

Indian Journal of Commerce and Management Studies, 2011, vol. 2, issue 2, 222-227

Abstract: Ayurveda is the most ancient system of healthcare. India’s share in the export of herbals is just 0.2% of the total global herbal market. So there is obviously vast scope for Indian manufacturers for entering the growing world wide opportunity of business in Herbal Pharmaceutical field.The world wide market of Herbal Medicines is US $ 60 billion (WHO 2002). The world health organization predicts the overall automotive medicine market to reach US $ 5 trillion by 2050. According to WHO, up to 80% of the world’s population still depend heavily on TCM for treatment. Traditional Medicines (TM) have been used by African Countries since ancient times. India’s exports are much less than what they import from other countries. Africa presents 6% of ASU&H exports. Major importing countries are Kenya and Nigeria. The major objective of this study is to critically appraise the potential for herbal ayurvedic products and identify the problems and prospects of these in select African Countries.

Keywords: Ayurvedic products; Traditional Medicine; Exports (search for similar items in EconPapers)
Date: 2011
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