The recent collaboration between the Ministry of AYUSH and Ministry of Micro, Small and Medium Enterprises (MSME) in India has given birth to the AYUSH Entrepreneurship Development programme. This development is aimed at boosting the AYUSH sector in the country through various schemes put forth by the Ministry of MSME.
Defining AYUSH
The term AYUSH is an acronym for Ayurveda, Yoga and Naturopathy, Unani, Sidha, and Homeopathy. These practices represent traditional and non-conventional medical systems that have deeply rooted histories within Indian culture and medicine, harking back centuries.
Challenges in the AYUSH Sector
Despite its cultural significance and growing interest globally, the AYUSH sector faces several challenges. One prominent issue is the quality standards of medicines as the scientific validation of AYUSH has been sluggish despite dedicated funds allocated in the past.
Human resources or lack thereof is another major hindrance. More practitioners are abandoning these traditional medical systems in pursuit of better job opportunities, leaving behind underutilized infrastructure.
Opportunities for Entrepreneurship
Regardless of these challenges, there remains a high demand for Indian Ayurveda, Yoga, Homeopathy, and Siddha treatments and products from other countries. This trend opens a window of opportunity for entrepreneurs to establish their clinics or outlets abroad and support export.
The raw materials needed for Ayurveda are typically found in forest areas, rural and tribal regions, aspiration districts. The need for processing units and clusters in these areas highlights a potential job creation and enterprise development opportunity for self-employment.
Proposed Action Plan for AYUSH Sector
In response to these issues, the two Ministries have outlined an action plan for promoting the AYUSH Sector. This includes incorporating AYUSH clusters into the schemes of the Ministry of MSME. Prominent AYUSH clusters have been identified in cities like Ahmedabad, Hubli, Thrissur, Solan, Indore, Jaipur, Kanpur, Kannur, Karnal, Kolkata, and Nagpur.
Scheme Breakdown
There are five main strategies put in place to promote AYUSH:
• Zero Defect Zero Effect/Lean – This encourages good manufacturing practice striving towards a perfect product.
• Procurement & Marketing Support Scheme – Designed to assist practitioners with national/international trades, exhibitions, government e-marketplace interaction, packaging, e-marketing, and exporting.
• Advanced Training Institute (ATI) – Focused on capacity building and skill development.
• Entrepreneurship Skill Development Programme (ESDP), Incubation – Geared towards assisting startups and enterprise development.
• Credit Linked Credit Subsidy (CLCS), Prime Minister’s Employment Generation Programme (PMEGP) – Providing financial support.
Source: PIB