Worldwide, there has been a new awakening about the relevance of indigenous system of medicines and medicinal products. Accordingly, the world market for indigenous system of medicines is growing rapidly. While there is a lack of data on the market for such system of medicines and products, the global market for herbal products was estimated at Rs 250,000 crores (roughly $62 billion) in 1998, and it is estimated to grow up to Rs. 1250,000 crore by 2010.

Along with the growth in the product market, the market for ISM services is also on the increase. Major market for the ISM products and services is the advanced economies, especially the US and West Europe. A notable feature of the global market is that products as well as services are of high value, and are gaining popularity among the high income groups. It is ironical that while Ayurveda, Yoga & Naturopathy seem to be a major segment of the large and expanding global market, ISM industry has failed to establish itself in the global market. (Indian system of medicine technologies exported out of the country in the past).

Besides, India has been a regular exporter of medicinal plants and herbs, which has facilitated flourishing of ISM technologies, products and services abroad. Apart from the proliferation of ISM in the major markets, there is now strong competition from similar indigenous medicinal systems from the countries of the Far East (e.g. Japan, Korea, China, Taiwan) that have a good member popular brands and activities firmly established in the global market.

As we talk of exporting ISM technologies, it is important to keep this reality in mind, and it will call for a total effort to re-build and re-organise the ISM activities.

In case of Homeopathy, Indian Subcontinent is the biggest market for homeopathy and the system is most popular here though the system originated in Germany. Germany, the US, France and United Kingdom are other foreign countries where homeopathy is recognised as a system of medicine other than Indian Subcontinent.

Currently, USA, Germany and United Kingdom are the countries to which India is exporting homeopathic product. India is also importing from these countries. Our major export destination of homeopathic products is Germany, which accounts for 90% to 95 % of our exports.

Homeopathy, along Ulith Indian System of Medicine should be included in MBBS curriculum at primary level at least. This would help in introduction of Indian system of medicines in hospitals and the professionals employed for the treatment can suggest the
homeopathy treatment which would help in medical cost cutting .

The major bottlenecks and limitations that obstruct the development of Homeopathic medicines are:

* Lack of availability of raw materials
*Lack of organised trade body in homeopathic market
*Lack of Quality control and Global Manufacturing Practice (GMP).

This has already been taken into action by the Department of Indian System of Medicine and Homeopathy, Government of India.

The immediate challengein front of us is to develop the system of Ayurveda, Yoga & Naturopathy into world class standards and popularising the same at home. Expanded domestic market and its growing popularity at home are considered essential for success in the global market. We have to encourage private sector to enter into education and training of professionals, besides development of hospitals, Yoga centers etc.

In a highly competitive global market, it may be extremely difficult to establish ISM as a medical practice and / or an alternative system of medicine. In view of this, it may be prudent to establish ISM as an Indian system of health care or Indian health system. The Indian system of health care can then be used as an attraction for foreign tourists (especially in the case of yoga). In fact, a combined strategy associated with tourism can go a long way in creating a space for ISM in the global market. In this context, it may be worthwhile to create specialised Health care Hermitages or Health care Villages / Parks in the vicinity of major tourist centers of the country .Similarly, all big Hotels may be encouraged to set up ISM health care centres in their premises.

Having done that, strategic marketing campaign needs to be drawn up for appropriate projection of the ISM in the major markets.

Medicinal plants and herbs, and knowledge about their uses, are the cores of the ISM. India has a rich variety of such plants and herbs, but there has been a lack of organised effort towards effective commercial development of such plants. There is urgent need for focused development of medicinal herbs and plants, with thrust on quality of development. We need to take an integrated view for total development, linking development of modern cultivation techniques to the end purpose of marketing of ISM products and services.