Posts Tagged ‘exports’

BOI approves export of ayurvedic medicines

May 29th, 2009

The Board of Investment of Sri Lanka granted investment approval to Gokula Natural Medicines (Private) Limited for a project to manufacture ayurvedic medicines for the export market.

The investment agreement worth Rs. 22 million is a joint venture between Gokula Natural Medicines and Iron River, United Kingdom. Chairman of Gokula Natural Medicines Limited, Ayur. Dr. M. B. Ratnayaka said that the company will manufacture ayurvedic medicines of international standard that will be exported to the European market.

Evolving throughout history, ayurveda remains an influential system of medicine in South Asia. Ayurveda is considered to be a form of complementary and alternative medicine within the western world having a growing interest.

“Ayurvedic medical methods which were limited to countries like Sri Lanka and India have now become an international practice. The current requirement for ayurvedic medicine to the western world is supplied by India and China. There is an immense opportunity to earn foreign currency by penetrating this segment” said Dr. Ratnayaka.

He said that herbs that are required to manufacture the medicine are not available in large quantities in Sri Lanka. To address this issue the company will set up a 100 acre Herbal plantation in Kurunagala.

The company also expects to setup seven ayurvedic health spas in the country with the guidance and support from the Ministry of Indigenous Medicine. The first two ayurvedic health spas are expected to be established in Bandarawela and Hambantota.
Source :The island

Kerala Ayurveda companies join hands to battle new retail giants

July 13th, 2008

Kochi: Kerala’s Rs600 crore organized Ayurveda industry is embarking on an expansion and quality improvement drive as it braces to compete with retail giants moving into its turf. After a joint venture with state agencies to ensure uniform testing and manufacturing facilities, the industry wants to set up an Ayurveda export promotion council to boost exports.

The impulsion for the drive comes from the entry of firms such as Reliance Retail, through its Reliance Wellness unit, Hindustan Unilever Ltd’s (HUL’s) Ayush and Pantaloon Retail (India) Ltd’s Tulsi brand of Ayurveda drugs and health centres.

Their entry into the ancient Indian system of health care is a sign of “the appeal Ayurveda holds for consumers”, says P.R. Krishna Kumar, head of the Confederation for Ayurvedic Renaissance Keralam Pvt. Ltd (CARe-Keralam), a group of 15 Ayurveda firms that are trying to reinforce the strength of their traditional knowledge of the “science of life” with marketing muscle.

Vaidyaratnam Oushadasala, which makes and markets Ayurvedic drugs and runs a nursing home, plans to set up 500 retail outlets across the country in two years, taking the total to 1,500, said managing partner E.T. Neelakandhan Mooss. The outlets will have a qualified Ayurveda doctor to attract patients. The firm has two manufacturing units, and will set up a third at Pollachi in Tamil Nadu to take advantage of the availability of herbs and cheap labour there. Vaidyaratnam also proposes to double the bed capacity of its nursing home at Thrissur in Kerala to 200.

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