Financial Daily from THE HINDU group of publications
Thursday, Sep 15, 2005

Port Info

Group Sites

Industry & Economy - Alternative Medicines
Agri-Biz & Commodities - Events

Meet on opportunities in medicinal, aromatic plants

Our Bureau

Hyderabad , Sept. 14

THE Central Institute for Medicinal and Aromatic Plants (CIMAP) will organise a three-day programme to educate prospective entrepreneurs and other stakeholders on the opportunities in medicinal and aromatic crops.

The programme will begin on September 28 at CIMAP's Boduppal facility near here.

Of the 49,000 species of plants, about 8,000 were known to be medicinal. Indian systems of medicine used around 2,500 plant species and industry tapped 800 species. Of these, only 25 per cent were cultivated.

According to a CIMAP release, the Indian market size for plant-based crude drugs was about Rs 4,300 crore, besides annual exports to the tune of Rs 1,256 crore.

The Planning Commission had pegged the potential at Rs 40,000 crore.

A Task Force constituted by the Commission recommended a strategy to increase export of herbal products to the tune of Rs 10,000 crore by 2010, besides meeting the domestic needs.

Globally, the demand for medicinal plants and their derivatives was growing at 7-15 per cent, the release, quoting an Exim Bank estimate, said.

A WHO (World Health Organisation) estimated that about 80 per cent of the people in developing countries relied on traditional plant-based drugs for their primary health care.

With regard to aroma plants, there were about 2,500 plant species known to contain aromas. But only 250 of them had a consistent demand in the global trade.

The global flavour and fragrance market size was put at Rs 88,000 crore. India ranked first with about 21 per cent of the Rs 4,300 crore global production of essential oils, excluding turpentine oil.

"India has enormous potential cultivating these crops in varied soils and agro-climatic zones," the CIMAP release said.

Besides throwing light on business opportunities, the programme would provide a platform to various stakeholders on different issues such as financing options and marketing options.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Banknet India Tata Safari Dicor

Stories in this Section
IFC, Rabo bank agree to fund Southern Online's expansions

Kharif output prospects bright, says Pawar
Global economy expanding despite high oil prices
TN signs pact with World Bank
Move to B2B relations: Russian Ambassador
Bangla Minister promises to plug loopholes at land customs stations
Dubai looks to boost trade ties with India
HC orders notice to Centre on stoppage of garlic import
Sharing PSU strategies?
Agrochem cos likely to post good numbers
NCDEX to launch Brent crude futures today
Now, an initiative to develop drugs for neglected diseases
US Pharmacopeia sets up subsidiary here
Maharashtra notifies ban on plastic bags
TRAI sets the ball rolling for digitisation of cable TV — Sets 2010 Commonwealth Games as deadline
Govt scheme to improve schools in Karnataka
Singapore bid to attract student community from India
Top moves in two-wheeler cos
Info Edge launches real estate portal
SIMA to tie up with more tech institutes for training
Govt open to selling residual stake in MUL
`Indian IT cos must offer better customer solutions'
Space week celebrations
Madras HC grants interim stay on fringe benefit tax
Edible oil imports up 27 pc
Shrimp prices begin to recover in US market
Meet on opportunities in medicinal, aromatic plants
New SIMA chairman

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line