Latent Opportunity for Indian Entrepreneur in Global Market: A Case Study of Ayurvedic Industry

Abstract

In the world Ayurveda market, share of Indian entrepreneurs is only 5% with Rs. 4000 crore. If India gets its act together, it can become a major player in the global market for herbal based medicines. Exports of herbal materials and medicines can jump from just Rs. 446 crore now to Rs. 3500 crore by 2006. And, with a "grand strategic plan", exports can shoot to Rs. 10,000 crore by 2010. The international market for such plants is more than $60 billion a year, and growing at a rate of seven per cent. Finding opportunities in the international market and standard preparations to be developed with quality, efficiency and effectiveness of the traditional drugs are the bottom-line solutions for ayurvedic entrepreneur of India.