Export of Ayush and herbal products registers 1.65% growth in first 10 months
 Exports of Ayush (Ayurveda, Yoga, Naturopathy, Unani, Siddha, Sowa-Rigpa and Homoeopathy) drugs and herbal products from the country have reported 1.65 per cent growth during the first ten months of the current fiscal year. The growth in the month of January stood at 14.54 per cent, highest monthly exports during the current fiscal, according to official data.According to data from the Ministry of Commerce, overall exports of Ayush and herbal drugs during the first ten months stood at $527 million as compared to $518 million in the same period of previous fiscal year, backed by the growth in exports during the months of December, 2023 and January, 2024. During December, 2023, the exports grew 5.11 per cent to $58 million as compared to $55 million in the same month of previous fiscal year. Exports of Ayush and herbal drugs during the month of January was $63 million, as compared to $55 million in the same period of last year. This is the highest monthly growth during the current fiscal year, which started with a 14.40 per cent decline in exports in the category at $43 million in April, 2023 as compared to $51 million in the same period of previous fiscal year. Imports, during the month of January, reported a decline of 14.21 per cent to $8 million as compared to $9 million in the same month of last fiscal year. The imports for the first 10 months of the fiscal year stood at $100 million, with 3.72 per cent growth compared to the $97 million imports reported during the 10 months ended January, 2023. Imports reported growth in the months of April (43.56%), August (4.22%), September (23.88%), November (32.42%) and December (23.82%), while reporting a decline in May (-1.8%), June (-24.38%), July (21.47%), and October (-8.08%), during the fiscal year. United States of America stood as the highest importer of Ayush and herbal products from the country at $152 million during the fiscal year, followed by Germany ($46 million), Italy ($29 million), China ($24 million), United Arab Emirates ($20 million), Nepal, United Kingdom, France and Australia (around $13 million each),and Russia ($11 million). Exports to the top five countries stood at $270.3 million, while imports from top five countries were around $70.8 million, during the first 10 months of the fiscal year, shows the official data from the Ministry of Commerce and Industry. India imported Ayush and herbal products the most from Germany ($23 million), Vietnam ($20 million), Nepal ($17 million), Indonesia ($6 million), Australia ($5 million), among others. As reported earlier, the overall exports of drugs and pharmaceuticals during the month of January reported a 6.84 per cent at $2.13 billion as compared to $1.99 billion during the same month of previous year. For the 10 months from April, 2023 to January, 2024, the pharma exports reported 8.07% growth to $22.53 billion, as compared to $20.85 billion during the same period of last year. |
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