India pushes ayurveda in BRICS wellness index

Among the many indices claiming to follow up on the Human Development Index is the BRICS Wellness Index. In the run up to the eighth BRICS Summit in Goa in October, where the heads of member nations will converge, organisations from these countries feel they can begin work on such an index. The index has a commercial aspect to it too. India is pushing for promotion of traditional

medicines as the key element for achieving success in climbing the ranks in the index. For Indian companies with a portfolio in ayurvedic products, this push could mean a major opening up of new markets. Speaking at a seminar in Bengaluru to brainstorm on development of such a Wellness Index, Union Minister for Chemicals and Pharmaceuticals Ananth Kumar said one could consider if a global organisation for propagating the value of traditional medicines under the World Health Organization was a feasible one.  "Basic health care is crucial. A lot of that springs from the availability of primary health care", he said. A document released for the event by Delhi-based think tank RIS, "Health, Nature and Quality of Life", in association with the Ministry of External Affairs, argues for marrying steps taken in advancing traditional medicine by these counties in making available healthcare to the people to feed into the measurement of growth. "We hope the BRICS governments would take into account the rising aspirations of their people, societies and various stakeholders to redefine the way we look at the process of economic growth," said Sachin Chaturvedi, director-general, RIS.

While a report by the department of science and technology report says the global market for herbal products is about $62 billion, India occupies less than a tenth of it, despite its biological sink. Herbal medicines occupy a significant percentage of this market. If the government pushes for a index like this one, it can create a force multiplier for the Indian companies to claw a larger share of the market.

In an earlier report in Business Standard, Ayush Secretary Ajit M Sharan had remarked about the importance of the event. According to his department the workshop will also include a session on WHO strategy for traditional medicine. The officials will be hoping the delegates from BRICS will agree with the prescription too.

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BRICS WELLNESS INDEX

INDIA

ANANTH KUMAR

RIS

SACHIN CHATURVEDI

ECONOMY & POLICY

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