154
S. Nautiyal et al.
According to the World Health Organisation (WHO) estimate, the demand for medicinal plants is approximately US$ 14 billion per year (Majeed 2015). Between 1992–
93, India exported about 32,600 tonnes of crude drugs valued at $US 46 million
(Dhar et al. 2002). As the demand for medicinal plants is rapidly increasing worldwide, economic potential of medicinal plants in India
40 is growing leaps. By 2002,
domestic sales was growing at the annual rate of 20% while the international market
for medicinal plants was estimated to be growing by 7% per annum (Subrat 2002;
CUTS 2004). International market
41 for medicinal plants is over US$ 62 billion
42 per
year, which is growing rapidly at the rate of 7%. By 2000, India was exporting herbal
material and medicine to the tune of Rs. 6446.3 million. The global herbal market
amounts to US$ 120 billion and is expected to grow to Rs. 250 billion by 2010 (Planning Commission 2000) and US$ 5 trillion by 2050 (Singh 2006; Niraj and Kapoor
2015). According to the report by EXIM Bank of India’s, the estimated value of
medicinal plants related trade in India is worth $ 5.5 billion (Planning Commission
2000; Mishra and Kotwal 2011) just 0.5%.
Numerous studies documented varied estimates of export and import of medicinal
plants of India. According to the study by Kumar and Janagam (2011) India’s average
export of Medicinal plants was Rs. 33,453.23 lakhs during 1991–92 to 2002–2003.
Its overall trend showed an increase of 0.21%. And the average Import was Rs.
2827.01 lakhs. Overall trend has been an increase of 0.39% from India. Another
study shows that the export of Ayurveda, Homeophathy and Siddha stood US$ 348
million and showing a growth of 16.5% (Niraj and Kapoor 2015). While one estimate
the annual turnover of the Indian
43 herbal medicinal industry is about Rs. 75,000
million contributing a growth rate of more than 15%. Another study by the Associated
Chamber of Commerce and Industry (ASSOCHAM), the Indian herbal industry has
projected to double to Rs. 15,000 million by 2015, from the current 75,000 million
business.
44 The apex chamber estimated that global herbal industry is expected to
grow to Rs. 700,000 million by 2015, more than double from the current level of Rs.
300,000 million. Small-scale players in the sector are likely to contribute substantially
in the future. Such differential estimates are due to enormity and complex medicinal
plant system in India
45 (Subrat 2002). In addition, illegal trade and unaccounted
species contribute substantially for industries like flouring, perfumes and tenderising
40 There are about 6 major, 21 medium and 37 minor medicinal plant markets spread across India.
Major exports takes place in New Delhi, Mumbai, Chennai and Tuticorin. There are about 25
companies in private sector engaged in nursery, generation, development of agricultural techniques
and farmers to cultivate medicinal plants (Subrat 2002).
41 Germany is the largest importer of medicinal plants (Lambert et al. 1997).
42 Access the link for more details (http://www.agricultureinformation.com/forums/generalquestions-answers/34618-cultivation-medicinal-plants-india-government-support.html).
43 Major players in Indian Ayurveda industry include Dabur, Baidyanath, Himalaya Drugs and Zandu
Pharmaceuticals, Ajanta Pharmaceuticals.
44 Access the link for more details (http://www.niir.org/projects/projects/highly-demandable-herbsmedicinal-plants/z„2b,0,64/index.html).
45 Studies point out that huge volume of illegal medicinal trade does account the total volume of
export (Subrat 2002).
S. Nautiyal et al.
According to the World Health Organisation (WHO) estimate, the demand for medicinal plants is approximately US$ 14 billion per year (Majeed 2015). Between 1992–
93, India exported about 32,600 tonnes of crude drugs valued at $US 46 million
(Dhar et al. 2002). As the demand for medicinal plants is rapidly increasing worldwide, economic potential of medicinal plants in India
40 is growing leaps. By 2002,
domestic sales was growing at the annual rate of 20% while the international market
for medicinal plants was estimated to be growing by 7% per annum (Subrat 2002;
CUTS 2004). International market
41 for medicinal plants is over US$ 62 billion
42 per
year, which is growing rapidly at the rate of 7%. By 2000, India was exporting herbal
material and medicine to the tune of Rs. 6446.3 million. The global herbal market
amounts to US$ 120 billion and is expected to grow to Rs. 250 billion by 2010 (Planning Commission 2000) and US$ 5 trillion by 2050 (Singh 2006; Niraj and Kapoor
2015). According to the report by EXIM Bank of India’s, the estimated value of
medicinal plants related trade in India is worth $ 5.5 billion (Planning Commission
2000; Mishra and Kotwal 2011) just 0.5%.
Numerous studies documented varied estimates of export and import of medicinal
plants of India. According to the study by Kumar and Janagam (2011) India’s average
export of Medicinal plants was Rs. 33,453.23 lakhs during 1991–92 to 2002–2003.
Its overall trend showed an increase of 0.21%. And the average Import was Rs.
2827.01 lakhs. Overall trend has been an increase of 0.39% from India. Another
study shows that the export of Ayurveda, Homeophathy and Siddha stood US$ 348
million and showing a growth of 16.5% (Niraj and Kapoor 2015). While one estimate
the annual turnover of the Indian
43 herbal medicinal industry is about Rs. 75,000
million contributing a growth rate of more than 15%. Another study by the Associated
Chamber of Commerce and Industry (ASSOCHAM), the Indian herbal industry has
projected to double to Rs. 15,000 million by 2015, from the current 75,000 million
business.
44 The apex chamber estimated that global herbal industry is expected to
grow to Rs. 700,000 million by 2015, more than double from the current level of Rs.
300,000 million. Small-scale players in the sector are likely to contribute substantially
in the future. Such differential estimates are due to enormity and complex medicinal
plant system in India
45 (Subrat 2002). In addition, illegal trade and unaccounted
species contribute substantially for industries like flouring, perfumes and tenderising
40 There are about 6 major, 21 medium and 37 minor medicinal plant markets spread across India.
Major exports takes place in New Delhi, Mumbai, Chennai and Tuticorin. There are about 25
companies in private sector engaged in nursery, generation, development of agricultural techniques
and farmers to cultivate medicinal plants (Subrat 2002).
41 Germany is the largest importer of medicinal plants (Lambert et al. 1997).
42 Access the link for more details (http://www.agricultureinformation.com/forums/generalquestions-answers/34618-cultivation-medicinal-plants-india-government-support.html).
43 Major players in Indian Ayurveda industry include Dabur, Baidyanath, Himalaya Drugs and Zandu
Pharmaceuticals, Ajanta Pharmaceuticals.
44 Access the link for more details (http://www.niir.org/projects/projects/highly-demandable-herbsmedicinal-plants/z„2b,0,64/index.html).
45 Studies point out that huge volume of illegal medicinal trade does account the total volume of
export (Subrat 2002).