Ministry of MSME and AYUSH collaborates for development of enterprises

New Delhi, June 5 (KNN) For developing enterprises in the traditional medicine sector “AYUSH”, the Ministry of MSME and Ministry of Ayush signed a MoU in New Delhi.

This collaboration will create synergies through the institutions and schemes of both ministries for the development of AYUSH enterprises in the country.

The objective of this partnership is to position India as a world leader in Holistic Healthcare.

Under this partnership, both the ministries will organize regional workshops for entrepreneurship development in AYUSH sector.

The MSME ministry will frame new schemes for AYUSH industries to avail benefits of lender to small industries - SIDBI. 

AYUSH one of the traditional medicine sector, includes the Ayurveda, Unani, Siddha and Homoeopathy drug manufacturing units as well as healthcare delivery centers in public and private sectors and are essentially dominated by MSMEs.

The domestic market for AYUSH sector has been increasing steadily over the past decade and there is also an acceptance of traditional medicines worldwide. Therefore, export of AYUSH products like food supplements, nutraceuticals and herbal extracts has increased significantly. 

This sector needs handholding support in the areas of entrepreneurship development, capacity building and financial assistance in order to grow and increase the market share.

In order to benefit from this the ministries of MSME and AYUSH have agreed to join hands for developing enterprises in this sector.