The free trade agreement with Oman has included India's traditional medicines, which will provide greater market access for Ayush products in the Gulf nation
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MUSCAT — The free trade agreement with Oman has included India's traditional medicines, which will provide greater market access for Ayush products in the Gulf nation.
This is the first time that India's traditional medicines have been included in a trade pact.
"A landmark element of the agreement is Oman's commitment to traditional medicine extended across all modes of supply, representing the first such comprehensive commitment made by any country, and creating a significant opportunity for India's Ayush and wellness sectors to showcase their strength in the Gulf region," an official statement said.
The comprehensive economic partnership agreement (CEPA) signed on Thursday includes a dedicated annexe, recognising trade in health-related and traditional medicine services.
It provides for cooperation in licensing and qualification procedures, digital conduct of licensing examinations, medical value travel facilitation and capacity building, harmonisation of standards and joint research.
The Ministry of Ayush has undertaken various initiatives to promote Indian traditional medicine systems globally.
It has developed a central sector scheme for promoting international cooperation in Ayush under which the ministry provides support to domestic Indian manufacturers and service providers to boost exports, facilitate international promotion, development and recognition of the Ayush system of medicine, and promote academics and research.
The total Ayush export of India has increased from USD 1.09 billion in 2014 to USD 1.54 billion in 2020.