Financial By Ayush
India’s Ayurvedic and herbal products export value increased from $354.68 million in FY15 to $446.13 million in FY19. On 4th Dec 2020, the decision to set up AEPC was taken in a joint review by Ayush Minister Shripad Naik and Commerce Minister Piyush Goyal.
The Ministry of Ayurveda, Yoga & Naturopathy, Unani, Siddha, and Homoeopathy (Ayush), and the Ministry of Commerce and Industry decided to work collectively for setting up Ayush Export Promotion Council (AEPC) to stimulate Ayush exports. In a statement, Ayush Minister (Shripad Naik) said that commerce and trade in the Ayush sector are needed to upscale rapidly to meet the ever-growing demands from India and abroad as well as to serving people at a larger scale who are looking ahead to maintaining their health with these systems.
The two ministers took this mutual decision to uplift exports including expediting standardisation of harmonized system (HS) code for Ayush, housing the proposed council at Ayush ministry, Ayush ministry collaborating with Bureau of Indian standards in order to develop international standards for Ayush products and services, Ayush ministry and industry identifying best practices and success stories and promoting them. Ayush sector works to ensure quality and standards of Ayush products and price-competitiveness, and Ayush figuring in the Brand India activities.