'1st SCO Conf & Expo on Traditional Medicine' Generates Trade Interest Worth Over Rs 590 cr for Ayush Market

During the two days of intense meetings between buyers and sellers at the conference, an additional trade interest of over Rs 590 crores was generated. On March 2, 2023, the Union Minister of Ayush and Ports, Shipping, and Waterways, Sarbananda Sonowal, inaugurated this first-of-its-kind conference and Expo under the SCO initiative in Guwahati, Assam.

"It is a moment of great realisation that this wonderful initiative has borne fruit with trade interest of more than Rs 590 crores generated during the event," Sarbananda Sonowal said on the occasion. “While this marks the Expo's immediate success, the conference also laid the groundwork for future interaction and cooperation among the states under the SCO initiative. At this point, I must thank Prime Minister Narendra Modi for his vision in bringing this concept of expanding the horizon of traditional medicine among SCO member states, which led to the event's successful hosting.”

"While the extent of trade in the Ayush market remains buoyant, the event helped increase its horizon to a wider international audience with a noble aim to provide an enriched quality of life with the help of traditional medicine. This is a huge boost for the Indian Ayush market because the event provided a platform to expand trade potential among SCO member states for improving people's quality of life," he added.

The Conference and Expo gave regulators, industries, and business leaders from all SCO and partner countries the opportunity to discuss various aspects of Traditional Medicine, such as products, services, education, skill development, cosmetics, and policies.

It strengthens mutual trade and friendship in traditional medicine and related fields. This event drew over 150 delegates from 17 countries, including India, and included high-level delegates such as Health Ministers, official delegates, and foreign buyers from SCO and partner countries. In-person, 75 foreign officials and business delegates from 13 countries attended. Officials from China, Uzbekistan, Kyrgyzstan, and Kazakhstan participated virtually via the internet.

The discussion aimed to comprehend trade patterns and market scenarios from the perspectives of Pharma and drug manufacturers. The showcase of products of native importance and popularity, trade opportunities, and discussions on innovation were expected to foster an environment for deeper cooperation and economic partnerships with broader market access among the SCO countries.

On September 17, 2022, India assumed the Presidency of the SCO Council of Heads of State for the year 2023 in Samarkand, Uzbekistan. At the SCO summit in Samarkand, Prime Minister Narendra Modi stated that India would take the initiative to establish a new SCO Expert Working Group on Traditional Medicine.

Under the SCO mandate, the Ministry of Ayush has been working on a variety of initiatives. A virtual conference of experts and practitioners of traditional medicine was held in February of this year, with experts from 25 SCO countries participating. The draft terms of reference of the Expert Working Group on Traditional Medicine were approved last month at a meeting of experts in New Delhi, as per the vision of Prime Minister Narendra Modi.