Medicinal and Aromatic Plants Cultivation in Bihar, India: Economic Potential and Condition for Adoption

Krishna Singh and A.K. Jha

MPRA Paper from University Library of Munich, Germany

Abstract: The MAPs provide opportunities for developing a variety of safe and cost effective, prophylactic, and curative medicines for a number of maladies. It is estimated that the primary health care of over 80 per cent of the world’s population still depends on plant based traditional medicines (WHO, 2002). Growing consciousness about health and side effects of modern medicines has again set the stage for innovation and use of herbal medicines. The global market for herbal products is continuously expanding and it is expected to touch the mark of US$ 5 trillion by the year 2050, from the US$ 62 billion in 2004 (Purohit and Vyas, 2004). Despite being a major player, the share of India in global trade of MAPs is merely 0.5 per cent, whereas the countries, like China exports plants and raw drugs, therapeutics and other MAPs worth Rs 18,000 crores annually. The MAPs provide opportunities for developing a variety of safe and cost effective, prophylactic, and curative medicines for a number of maladies. It is estimated that the primary health care of over 80 per cent of the world’s population still depends on plant based traditional medicines (WHO, 2002). Growing consciousness about health and side effects of modern medicines has again set the stage for innovation and use of herbal medicines. The global market for herbal products is continuously expanding and it is expected to touch the mark of US$ 5 trillion by the year 2050, from the US$ 62 billion in 2004 (Purohit and Vyas, 2004). Despite being a major player, the share of India in global trade of MAPs is merely 0.5 per cent, whereas the countries, like China exports plants and raw drugs, therapeutics and other MAPs worth Rs 18,000 crores annually. Formal bio-partnerships between certified farmers and Ayurvedic pharmaceutical companies, like Baidyanath Ayurved Bhawan, Patna; Ayurved Shri Herbals Ltd, Ahmedabad, Fragrance Herbs, Patna needs to be explored. The arrangement should ensure farmers with a guaranteed market and a fixed fair price for their harvest, in exchange for exclusive rights to the produce as the sole buyer. The other agencies like departments of Forest, Agriculture, Horticulture, Health and Family Welfare can come together to offer technical, market related and other input supply services to the various stake holders so that sector as a whole can grow and dependence on outside sources for primary health care is minimized. Use of farmer Interest Groups for dissemination of technology and market information can also be explored in the state.

Keywords: Medicinal Plant; Aromatic Plants; Adoption; Bihar (search for similar items in EconPapers)
JEL-codes: O13 O33 Q01 Q13 Q21 Q23 (search for similar items in EconPapers)
Date: 2008-02-14, Revised 2008-04-08
References: View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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