Ayurveda products market estimated to reach Rs 1.2 lakh crore by 2027-28
[ad_1]
pattern photo
Creative Commons
Ayurveda technology startup ‘NirogStreet’ has said in its report that the Ayurveda product market is growing rapidly due to the increasing demand for natural and herbal remedies in the domestic and international markets, increase in the number of Ayurvedic physicians, government initiatives and entry of new entrepreneurs. At present its market is seven billion dollars i.e. Rs 57,450 crore.
New Delhi. India’s Ayurveda products market is estimated to reach $16.27 billion i.e. Rs 1.2 lakh crore by the financial year 2027-28. This estimate has been expressed in a study report. Ayurveda technology startup ‘NirogStreet’ has said in its report that the Ayurveda product market is growing rapidly due to the increasing demand for natural and herbal remedies in the domestic and international markets, increase in the number of Ayurvedic physicians, government initiatives and entry of new entrepreneurs. At present its market is seven billion dollars i.e. Rs 57,450 crore.
The Ayurveda products market in India is expected to reach Rs 1,20,660 crore ($16.27 billion) by fiscal year 2027-28, HealthStreet said, citing a survey. According to the survey, the overall market for Ayurvedic products and services is projected to grow at an annual growth of 15 percent from FY 2022-23 to FY 2027-28. In this, the growth rate of product sector is likely to be 16 percent while the growth rate of service sector is likely to be 12.4 percent. The survey says that the value of Ayurvedic manufacturing in the country is estimated to be Rs 89,750 crore in the financial year 2021-22, of which about Rs 40,900 crore was exported.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
other news
[ad_2]
Source link
