Ayurveda surging, exports up: Rishad
Lanka’s surging tourism numbers and rising global demand of herbal products have resulted in an Ayurveda revenue boom in Sri Lanka.
“The practice of Ayurveda uses almost local plants and species, rarely using any imports and therefore does not affect our imports bill or trade gap significantly. Our 2012 Ayurveda exports rose by a strong 95 percent in comparison to 2010 Ayurveda export volumes” revealed Industry and Commerce Minister Rishad Bathiudeen addressing the inauguration event of international Ayurveda 2013 exhibition, Indigenous Healthcare Exhibition & Trade Fair yesterday.
“The leading buyers of our herbal exports in 2012 were Australia, Maldives, Japan, India and Albania” Minister Bathiudeen said, and added: “Also, surging tourism in Sri Lanka, is becoming a growth driver for Sri Lanka’s Ayurveda industry. Along with this, rising global demand for herbal alternatives, the beauty care industry, health food and beverages, Ayurveda clinics and medicinal herbs, are other related industries that show growth potential that has a positive effect on the Ayurveda industry in Sri Lanka,” Minister Bathiudeen added.
The inauguration of the event was also graced by Economic Development Minister Basil Rajapaksa. The international exhibition and symposium held at BMICH Colombo, is aimed at popularizing and creating a demand for the Ayurveda and Indigenous medical products and services in Sri Lanka and abroad. It is jointly organised by National Chamber of Commerce of Sri Lanka and Ministry of Indigenous Medicine, with direct support from Minister Bathiudeen’s Industry and Commerce Ministry, and also SL Gem & Jewellery Authority, the Export development Board under Minister Bathiudeen, SL Conventions Bureau and SL Tourism Promotion Bureau, thereby creating the largest gathering of its kind.
The show will close on July 14. Exhibitors and resource personnel from India, China, Thailand, France, Germany and South Africa are taking part in this year’s fair.
A top Indian Ayurveda medicine manufacturer was upbeat on the prospects in Sri Lanka. “We have been taking part in this expo since 2007. We have been also getting excellent responses from Lankan buyers and doctors” said Shashank Sandu, Director of Sandu Pharmaceuticals Ltd, Mumbai. “Presently, we are only importing and distributing our products in Sri Lanka but also ready to explore joint ventures with suitable local partners on Ayurvedic formu- lations and specially in Ayurvedic medicinal plantations projects. ‘Medicinal plantations’, since we see Sri Lanka as a biodiversity hotspot with strong potential to become a part of our raw material supply chain” added Sandu, whose 100 year-long historic Mumbai-based Sandu Pharmaceuticals Ltd (SPL) also has health spas and resorts under it, among other ventures, reported $ 16.6 Mn turnover in 2012 (only for pharmaceutical revenues). SPL is also an ISO 9001:2000 certified firm.