CII to hold conference on Indian system of medicine

To create a favourable business environment for traditional medicines in domestic and global markets, the Confederation of Indian Industry (CII), southern region, is organising a one-day conference on 'Indian System of Medicine "" Advantage India' on August 12.

The objective of the conference is to understand and create appreciative mindset for Indian medicine, evolve strategies for tapping the global market and move up the value chain with a strong brand presence.

The conference will also focus on intellectual property rights and changing FDA laws in the US, Australia and Europe.

Prominent speakers including M F Farooqui, special commissioner of Indian Medicine and Homeopathy, Government of Tamil nadu, Narendra S Bhatt, chief executive officer of Zandu Pharmaceuticals Private Limited, V P Siddhan, chairman of Cholayil Pharmaceuticals, K Anil Kumar, managing director of Kerala Ayurveda Pharmacy Limited and K R Kohli, director of Dabur Research Foundation, will participate in the one-day conference.

According to CII, India accounts for less than two per cent of the global market for herbal products which includes medicines, health supplements, herbal beauty and toiletry products. The global market is estimated to be around $62 billion.

China accounts for 40 per cent of the world trade whereas India's position is very weak in spite of its strong knowledge base and vast natural resources of medicinal plants.

According to a study conducted by World Health Organisation (WHO), over 80 per cent of the world population relies on the traditional system of medicine, largely plant-based to meet their primary health requirements.