Financial Daily from THE HINDU group of publications
Tuesday, Sep 23, 2003
Financial Daily from THE HINDU group of publications Tuesday, Sep 23, 2003 |
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Industry & Economy
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Events CII meet on herbal industry next month Our Bureau
Hyderabad , Sept. 22 THE Federation of Andhra Pradesh Chamber of Commerce and Industry (FAPCCI) is organising a two-day national seminar on `Investment opportunities in medicinal and aromatic plant-based industries' beginning October 10. The meet will throw light on an estimated $100-billion global market for herbal drugs. FAPCCI has teamed up with Andhra Pradesh Medicinal and Aromatic Plants Board and National Medicinal Plants Board to organise the seminar. Participating in the preparatory meeting, Dr M.V. Rao, former Vice-Chancellor of Acharya NG Ranga Agricultural University (ANGRAU), said that despite having vast biodiversity, India's share in the global market remains at only 2.3 per cent. "Developed countries account for nearly 50 per cent of the global market for herbal medicine. Cambodia has a share of Rs 10,000 crore and China Rs 35,000 crore compared to India's 400 crore." Calling for strategies to address the domestic and global markets, he said that establishing trade linkages and adding value would help grow the farming activity. Dr Manoranjan Bhanja, CEO of AP Medicinal and Aromatic Plants Board, said that certain missing links should be addressed to encourage the farming community to grow medicinal plants. "There should be a well-developed ancillary activity so as to absorb the produce; else farmers will get discouraged to stick on to the farming of medicinal plants." Another key factor is the issue of obtaining organic certificates. "It is too expensive for individuals to get those certificates. Can't we have a mechanism of our own to make the produce acceptable in the global markets?" The seminar will discuss issues like `Medicinal and aromatic plant-based industry - Challenges and opportunities', `Financing options' and `Entry strategies'.
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