Ayush Ministry has received letters of intent (LoI) from companies with investment commitment of Rs 9,000 crore on the concluding day of Global Ayush Investment and Innovation Summit (GAIIS) at Gandhinagar. Aimed at attracting global attention to India’s ancient wisdom and traditional knowledge, GAIIS was organized in line with Sustainable Development Goal (SDG) Number 3 of promoting “Good Health and Well-being.” With the active participation of 90 eminent speakers and 100 exhibitors, GAIIS covered five plenary sessions, eight roundtables, six workshops, and two symposiums in a time span of three days.
The three day Summit was inaugurated by Prime Minister Narendra Modi in the presence of Prime Minister of Mauritius Pravind Kumar Jagnauth and Director General of World Health Organization Dr. Tedros Ghebreyesus at Mahatma Mandir in Gandhinagar on April 20, 2022. With more than 70 Memorandum of Understanding (MoUs) signed during the summit between countries and prestigious research institutes, the investment proposals covered major categories including Medical Value Travel (MVT), pharmaceuticals and diagnostics among others.
The Union Ayush Ministry and the Ministry of Defence have signed an MoU to start Ayush facilities in over 35 cantonment areas across India. Highlighting the fact that the investors and entrepreneurs globally have realized the comparative advantages which Ayush is offering, Union Minister for Ayush Sarbananda Sonowal at the valedictory function said that the Summit has been instrumental in developing an enabling framework to attract investments in the sector.
He also pointed out the limitless investment and innovation opportunities in the field of Ayush.
Talking about the phenomenal annual growth of 75%, Union Minister for Sports and Youth Affairs and Information & Broadcasting Anurag Thakur said the market size of the Ayush has witnessed a quantum jump from just over $3 billion in 2014 to $ 18 billion today.
Anurag Thakur expressed a lot of optimism around witnessing many Start-ups and business investments in the sector. He also recommended better packaging of products along with aggressive marketing and branding towards increased competitiveness.
The Minister further remarked that India is poised to become a hub of medical tourism and Vishwa Guru in traditional medicine motivated with the spirit of One Earth, One Health and promote Heal in India.