Kerala targets Rs 5,000 cr turnover from ayurveda

Kerala State Industrial Corporation to come out with a plan to unlock the potential of ayurveda

Kerala State Industrial Development Corporation (KSIDC) managing director Aruna Sundararajan said the state aims to achieve Rs 5,000 crore turnover from ayurveda by 2020.

"We aim at a five-fold increase in the share of ayurveda in next five-six year period," said Sundararajan. The present annual revenue from the sector stood at Rs 1,000 crore.

With the increasing acceptance of alternative medicine globally, she said ayurveda was successful in the treatment and management of lifestyle and chronic diseases.

KSIDC is organising a two-day International Business Meet (IBM) on ayurveda to bring key stake holders from the industry to evolve a roadmap for harnessing the global opportunities.

"We see IBM as a platform to showcase the strength of ayurveda before the business and entrepreneurial community and take it to the global level. We invited entrepreneurs from all across the world to leverage Kerala's unique strengths here. KSIDC would come up with a comprehensive plan to promote the sector with inputs from the IBM," she said.

Apart from products and services, ayurveda would offer investment opportunities in research and development, including genomics and nano technology.

She said around 4,000 delegates from 22 countries including ministers, top officials and CEOs will attend the meet, to be held in Kochi on February 21 and 22.

The IBM is being organised as part of the Global Ayurveda Festival 2014.

Growth of ayurveda would mean the use of indigenous knowledge systems for creation of jobs and wealth. It has significant multiplier effects in the area of tourism, agriculture, manufacturing and education.

"We plan to attract big investments in setting up iconic institutions in the state, which would underscore Kerala's primacy in the ancient branch of medicine, she said.