It is appropriate time to set up EEPZ when India's export of herbal medicines to countries like US, Spain, UK, Australia, Russia and Indonesia have been growing at an average rate of over 25 per cent.
Apex chamber of trade and industry, Assocham, has suggested setting up of Exclusive Export Promotion Zones (EEPZ) in select states to push up exports of herbal material and medicines from current level of about Rs 3,000 crore to projected figure of Rs 12,000 crore by 2012.
It is appropriate time to set up EEPZ when India’s export of herbal medicines to countries like US, Spain, UK, Australia, Russia and Indonesia have been growing at an average rate of over 25 per cent.
A survey on future of herbal exports conducted by the chamber reveals that India followed by China is the largest producer of medicinal plants, having more than 40 per cent of global diversity.
Medicinal value
The states which are major producer of herbal plants having the highest medicinal value include Gujarat, Rajasthan, Tamil Nadu, Andhra Pradesh and states bordering the Himalayan Range.
These states together account for over 75 per cent of exports proceeds of herbal medicines out of India’s estimated exports of Rs 3,000 crore.
If EEPZs are set up in these states with total central allocation of Rs 30,000 crore, having facilities for research and development, it would not be difficult for India to accelerate its exports of herbs medicines to projected level of Rs 12,000 crore in next five years, the survey suggests.
Currently India’s share in medicinal plant export in global trade is just about 2.5 per cent against 13 per cent of China.
