Export-Import Bank of India (Exim Bank) has offered a loan of Rs 4.62 crore to Traditional Ayush Cluster of Tamil Nadu Pvt Ltd (TACT) to set up common infrastructure facilities for Ayush (Ayurveda, Yoga & Naturopathy, Unani, Siddha and Homoeopathy) products in Sriperumbudur, near here
The aim is to promote exports of Aysuh products through a cluster approach, according to Exim Bank officials. Exim Bank and TACT, a special purpose vehicle by the Department of Ayush, Government of India, signed a loan agreement on Thursday for setting up the facilities.
The company would set up facilities for testing and analysis, product validation, safety studies and manufacturing. Besides, a facility is being developed to support entrepreneurs compete in the international market, and to develop a research and development centre for Indian Systems of Medicine (ISM) products, especially Siddha and Ayurveda.
TN has nearly 900 units in the ISM sector and contributes close to 7 per cent to the overall industry turnover.