Indian Herbal Trade in World Scenario

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Chapter: Pharmacognosy and Phytochemistry : Indian Trade in Medicine and Aromatic Plants

The utilization of herbal drugs is on the flow, and the market is growing step by step. The annual turnover of the Indian herbal medicinal industry is about Rs. 2,300 crore as against the pharmaceutical industry’s turnover of Rs. 14,500 crore, with a growth rate of 15%. The export of medicinal plants and herbs from India has been quite substantial in the last few years. India is the second largest producer of castor seeds in the world, producing about 125,000 tonnes per annum.


INDIAN HERBAL TRADE IN WORLD SCENARIO

 

 

The utilization of herbal drugs is on the flow, and the market is growing step by step. The annual turnover of the Indian herbal medicinal industry is about Rs. 2,300 crore as against the pharmaceutical industry’s turnover of Rs. 14,500 crore, with a growth rate of 15%. The export of medicinal plants and herbs from India has been quite substantial in the last few years. India is the second largest producer of castor seeds in the world, producing about 125,000 tonnes per annum. The major pharmaceuticals exported from India in the recent years are isabgol, opium alkaloids, senna derivatives, vinca extract, cinchona alkaloids, ipecac root alkaloids, solasodine, Diosgenine/16DPA, menthol, gudmar herb, mehndi leaves, papian, rauwolfia, guar gum, jasmine oil, sandalwood oil, etc. The turnover of herbal medicines in India as over-the-counter products, ethical and classical formulations and home remedies of traditional systems of medicine is about US$ 1 billion and export of herbal crude extract is about US$ 80 million. The herbal drug market in India is about US$1 billion. Some of the medicinal plants, whose market potential is very high, have been identified and summarized in Table below.

 

Table : List of high-market-potential medicinal plants

 

 

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