Bangalore, Nov 27 (UNI) ''Avesthagen'' Ltd has been granted license to manufacture bioactives for Ayurvedic Drugs by the Drugs Licensing Authority, under the Union Government.
The license would help ''Avesthagen'' to tap the huge Indian and global markets for Ayurvedic products.
Villoo Morawala Patell, Founder, Chairman and Managing Director of Avesthagen said, ''Ayurveda is one of the oldest health care systems in India, and this is a great opportunity for us to popularise the system internationally.'' The Ayurvedic industry, recorded annual sales of about Rs 7,000 crore in fiscal 2008. Ayurvedic ingredients, were used in Indian healthcare and cosmetics products for centuries. They are becoming increasingly popular in the West as the preference for natural and more holistic products continues.
According to market research analysts, Indian Ayurvedic firms have the potential to strike 120 Billion dollars in the global Herbal Market, and also have the potential to export them, a company release said.
UNI RS VV PD KP2152