Though rich in variety of species of medicinal and aromatic plants with different bio-climatic conditions, India still lags behind research and commercialisation of herbal-based drugs, experts felt.
In the $ 400-billion global herbal medicine market, Asian market is estimated at $ 100 billion.
China is well ahead of India with its $ 57 billion market share, whereas the latter accounts for a mere $ 2.3 billion in the herbal-based drugs market.
Addressing a seminar on 'Global scenario of herbal medicine,' Chandrakanth Kokate, the vice-chancellor of Kakatiya university, said: