India to explore $40-bn market in US
India has also cleared the proposal to send experts to teach Ayurveda in 10 American medical colleges.india Updated: Jan 13, 2006 05:03 IST
India has cleared the proposal to send experts to teach Ayurveda in 10 American medical colleges.
This is a major step towards promoting Ayurvedic studies in the US and tapping its $40 billion herbal market.
"Prime Minister Manmohan Singh has extended his full support for the proposal and we are in touch with officials of Ayurveda department in this regard," a senior medical representative of Indian Doctors in the US, Navin C Shah said.
Shah, who met Singh on Tuesday and is scheduled to meet senior bureaucrats to work out the proposal, said under the arrangement Indian government will finance two Ayurveda professors for the course.
Shah said a short course in Ayurveda will create further interest in learning and use of ancient Indian system of medicine benefiting patients in the US.
Shah, a leading Urologist in Washington and the former President of the American Association of Physicians of Indian origin, representing 41,000 doctors, said there existed a vast $40 billion herbal market in the US.
"In India the Ayurveda sector is only worth $1 billion but the Americans spend over $40 billion annually on herbal medicines and products," he said adding that awareness about Ayurveda will enable to tap the vast market in the US.
First Published: Jan 11, 2006 19:17 IST