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Herbal Market Overview and Growth Drivers

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Herbal Market Overview and Growth Drivers

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Questions and Answers

What is the projected market size for the Indian herbal industry by 2012, according to Assocham?

US $ 12,000 million

US $ 14,500 million (correct)

US $ 9,000 million

US $ 7,000 million

Which of the following is a key driver of the growth in the Indian herbal industry?

Declining interest in traditional medicine

Government support for the production of high-quality herbal products (correct)

Increased demand for synthetic drugs

Lack of regulation in the herbal industry

What is the estimated annual turnover of the Unani medicine sector in India?

US $ 7000 million

US $ 3600 million

US $ 27.5 million (correct)

US $ 300 million

What is the compound annual growth rate (CAGR) projected for India's herbal exports by Assocham?

<p>25% (A)</p> Signup and view all the answers

What is the estimated value of herbal raw materials and medicines exported from India?

<p>US $ 3600 million (D)</p> Signup and view all the answers

Flashcards

Herbal Market Growth

The herbal market in India is expected to reach 14,500 crore by 2012 with a CAGR of 20%.

Current Market Size

The current size of the Indian herbal market is estimated at 7000 crore, with substantial export of herbal raw materials.

Ayurveda Annual Turnover

The annual turnover for Ayurveda in India is approximately US $300 million.

Unani Annual Turnover

The annual turnover for Unani medicine in India is around US $27.5 million.

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Government Role in Herbal Industry

The government promotes the herbal industry to improve drug quality and increase exports.

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Study Notes

Herbal Market Overview

The herbal market is experiencing rapid growth, projected to reach 14,500 crore by 2012.
The market is anticipated to expand at a Compound Annual Growth Rate (CAGR) of 20% to 9000 crore.
This growth is supported by the Associated Chambers of Commerce & Industry of India (Assocham).

Herbal Industry Size

The current size of the Indian herbal market is estimated at 7,000 crore.
Exports of herbal raw materials and medicines exceed 3,600 crore.

Growth Drivers

Government initiatives to improve quality standards and promote exports are contributing to the market growth.
The economic development is also a factor.
The market plays an important role in the development of new research and development projects related to herbal medicine.

Specific Sectors

Ayurveda's annual turnover in India is estimated at US$ 300 million.
Unani's annual turnover is estimated at US$ 27.5 million.

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Description

Explore the dynamics of the herbal market, including its rapid growth and projected size. This quiz covers key factors driving the industry's expansion and specific sectors like Ayurveda and Unani. Test your knowledge on the future trends in herbal medicine and its impact on the economy.