Marking Ayurveda Day 2024: Harnessing the Power of AYUSH Systems for Universal Wellness
Ayurveda Day 2024 is set to be a significant event, marking a beacon of hope and resilience in India's health sector. This year's theme, "Ayurveda Innovation for Global Health", emphasises the rich heritage and growing innovations of Ayurveda, offering holistic solutions that resonate far beyond borders.
Ayurveda, a core pillar of the AYUSH (Ayurveda, Yoga & Naturopathy, Unani, Siddha, and Homeopathy) system, is widely used in India. According to recent statistics, 40.5% of rural residents and 45.5% of urban dwellers prefer Ayurveda as their means of healthcare. The AYUSH sector in India has an overall worth exceeding US$ 50 billion, with the manufacturing sector reaching a valuation of US$ 24 billion by 2024.
The service sector, meanwhile, has a valuation of US$ 26 billion, while the market for Ayurveda products and services is projected to grow at a CAGR of 15% from FY23 to FY28. Ayurveda products are exported to over 150 nations, showcasing its global appeal.
The Confederation of Indian Industry (CII) has been instrumental in supporting the growth of AYUSH and related sectors. CII engages with industries, government, and other key stakeholders to drive initiatives that elevate healthcare standards and position Ayurveda as a globally viable healthcare system. CII has dedicated committees handling Ayurveda, Healthcare, Medical Technology, Health Insurance, and Public Health.
Over the past decade, CII has fostered knowledge creation, advocated for policy enhancements, and cultivated collaborative platforms in India's health sector. This year, under the leadership of Mr. Memani as the President of CII for the year 2024-25, Ayurveda Day 2024 will aim to rally government and private sector participation in promoting Ayurveda on the global stage.
Awareness of AYUSH in general is exceptionally high in India, with knowledge of these systems ranging from 87% to 99% in rural areas and over 86% across urban regions in all States and Union Territories. Ayurveda, as a system of Traditional Medicine, is acknowledged as such in more than 30 countries.
Ayurveda Day 2024 reflects on Ayurveda's transformative role in the health and wellness of individuals and shaping a healthier, more sustainable world. It's a celebration of India's contributions to global health and a look forward to a future where Ayurveda's influence grows even stronger.
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