It’s Mayday, literally, for Ayurveda-based products. Starting this month, the European market have become out of bounds for the entire universe of Ayurveda products as the EU enforces the traditional herbal medicine product directive (THMPD). This also snuffs out other forms of unlicenced traditional drugs from the EU market including Traditional Chinese Medicines (TCM). Understandably, it has created an uproar in China. However, in India, there is a flutter here and a whimper there around the issue.
The reason being China’s exports of TCM products stand at a staggering $1.94 billion, still growing upwards of 20% annually despite the high base. In contrast, the Indian Ayurveda exports to the western European countries is pegged at less than R50 crore, according to industry estimates.
While the smaller players are upset about drying up of a future stream of revenue and the stigma that comes with being declared ‘illegal’, they do not...
The reason being China’s exports of TCM products stand at a staggering $1.94 billion, still growing upwards of 20% annually despite the high base. In contrast, the Indian Ayurveda exports to the western European countries is pegged at less than R50 crore, according to industry estimates.
While the smaller players are upset about drying up of a future stream of revenue and the stigma that comes with being declared ‘illegal’, they do not...
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