Conserve, Cultivate & Capitalize: Focal Issues of Indian System of Medicine

Abstract:     
Presently India is one of the richest countries in the world as regards genetic resource of medicinal and aromatic plants. With majority of population subscribing to herbal drugs there is boom in indigenous medicinal sector. Globally, there have been concerted efforts to monitor quality and regulate the growing business of herbal drugs and traditional medicine. Health authorities and governments of various nations have taken an active interest in providing standardized botanical medications. Government of India has also plunged into this opportunity and initiated some regulations in this sector.

The government is presently emphasizing on three basic essentials i.e. firstly conservation of whatever is left in the natural habitat by putting a stop on further extraction of medicinal plants from forests. Secondly on cultivation; so as to increase the production of raw materials without destroying the natural habitat. Rather than encouraging collection from the wild habitat, promotion of cultivation of high demand and low availability rare plants is being advocated and lastly to Capitalize: with rekindling in the demand for traditional medicines globally there is a huge potential in this sector & India has to take big steps to capitalize it and that too without compromising on the quality of the product.

Since medicinal plants sector has a number of stake holders having divergent interests, this paper was conceptualized to examine the rules and regulations put forth by the Indian government at every stage of value chain. It gives an overview of the current laws, major initiatives by the government and the gaps therein.

Keywords: conservation, cultivation, capitalization, laws

Working Paper Series