Healing Herbs 2023: Experts discuss investment opportunities in medicinal & aromatic plants

New Delhi: AFC India Limited (AFCIL) with the support of National Medicinal Plant Board (NMPB), Ministry of Ayush and Hamdard Foundation, hosted Healing Herbs 2023, an International workshop, to promote Medicinal & Aromatic Plants and enhance investment opportunities in the wellness sector.

Mashar V, Managing Director, AFC India Limited while delivering the welcome address said “India has approximately 7000 commercially viable herbal plants, but only 8% of the required quantity is being cultivated in the country. Herbal and Aromatic plants hold an important position in the Indian economy and has huge export potential. Lack of quality planting materials, fragmentation of processing industries, lack of adequate support from financial institution, lack of modernisation of industries etc. were the major constraints. Later, Mashar, outlined the objectives of the Workshop in bringing the stakeholders such as cultivators, FPOs, start-ups, industry representatives, traders, academia, research etc. to the platform to deliberate and find solutions.

The workshop was held at the India Habitat Centre, New Delhi and highlighted various government initiatives and schemes to support MSME businesses.

Mercy Epao, IAS, Joint Secretary, Ministry of MSME, Government of India said “NIC unit of MSME can help start-ups dealing with medicinal and aromatic plants connect with large pharmaceutical corporations and the Global Market Intelligence System (GIMS) assists MSMEs in identifying the right markets”.

Epao was speaking as Guest of Honour at Healing Herbs 2023. “The government has set a vision for India at 100, known as Amrit Kal, and in line with this we aim to formalise all MSMEs, bridge the credit gap, and make MSME the highest provider of employment. We also plan to bring emerging technologies such as AI, ML, and blockchain to all districts and provide at least one tech solution for MSMEs in each district.” further continued Smt. Mercy Epao.

Smt Epao also noted the Northeast’s and Himalayan region importance for medicinal and aromatic plants, given its rich biodiversity. Ministry of MSME has linked medicinal plants to the region and provides capacity building for first-time exporters to get their products certified and become members under export councils through the Ministry of Commerce. MSMEs are the second-largest employment generator, with 1.6 crores. The Ministry of MSME has committed overall 5000 crores to support MSMEs through schemes such as PMEGP and Self-Reliant India Fund (SRI Fund).

The sessions covered a wide range of topics related to the medicinal and aromatic plants sector, including technologies for export market linkages, identification of crude herbal drugs, export potential for MAPs, ensuring resource sustainability, and promoting skill-based entrepreneurship in the sector. The speakers provided valuable information on the issues related to the cultivation, processing, and export of medicinal and aromatic plants, as well as the need for standardization, sustainability, and skill development in the industry.

Dr. RC Uniyal, General Manager, Emami Group, Kolkata, India, presented on the export potential for MAPs and opportunities for investment, including issues related to destructive harvesting, managing medicinal plant resources, and the importance of the bioeconomy from bio-resources. Dr. DP Singh, Unnat Krishi Evam Herbal Techno-Solutions Pvt Ltd, talked about innovative farm mechanization technology in the MAP sector, while Prof. (Dr.) Sayeed Ahmed, Head Department of Food Technology, Jamia Hamdard, discussed shelf life of medicinal plants.

Finally, Dr. Ravinder Raina, Founder & Director, Raina Naturals and Educational Consultants, presented on ensuring resource sustainability and promoting skill-based entrepreneurship in medicinal plants, highlighting the importance of sustainability and entrepreneurship, and discussing the cultivation of new plants and improved varieties with high productivity.

The workshop also saw a session on the financing of MAPS, chaired by Mr. Sanjeev Dangi, Vice President, Dalit Indian Chamber of Commerce and Industry (DICCI), featured senior executives and representatives from HDFC Bank, Varaha, MFI – Save Solution Pvt Ltd, New Delhi, among others. Overall, the conference provided a platform for experts to share their knowledge and insights, leading to valuable discussions and networking opportunities for participants.

Various organizations, including the National Medicinal Plants and Boards, Hamdard National Foundation, Agriculture Finance Corporation, Kairali Ayurvedic Group and Theta Foundation for Development, have collaborated to establish this comprehensive platform ‘Healing Herbs 2023’ to enhance opportunities in the wellness sector. The platform aims to foster cooperation and synergies among stakeholders to build a robust national and international industry that caters to the healing needs of people worldwide. The integration is being facilitated by various Ministries, including AYUSH, NMPB, MSME, SIDBI, progressive growers, wellness industry, Pharma, Cosmetic, and Nutraceutical Companies, and discussed production, processing, market issues, and how to improve market access.

Additionally, they addressed recent technologies and advancements in the herbal industry, challenges, value addition marketing, and export. The seminar intended to showcase the financial feasibility and bankability of projects in the MAP sector and promote ease of business for all stakeholders while creating opportunities for international collaboration and networking.

The Ministry of AYUSH has taken steps to support the cultivation of medicinal plants on farmlands across the country by providing subsidies of 30%, 50%, and 75% for 140 medicinal plants based on their availability and market demand. These subsidies are provided as per the operational guidelines of the Scheme. Under the National AYUSH Mission (NAM) program, the Ministry has sponsored the cultivation of medicinal plants on 56,396 hectares of land.

Over the past two years, the Medicinal Plants component of the National AYUSH Mission (NAM) scheme has received an allocation of Rs. 134.67 Crpre, with Rs. 75.72 crore already released to promote cultivation and related activities across 16740 hectares of land.