Export and Import Pattern of Medicinal Plants in India

Medicinal plants also play an important role in the lives of rural people in India with few health facilities. The plants that possess therapeutic properties or exert beneficial pharmacological effects on the animal body are generally designated as "Medicinal Plants". They play a significant role in providing primary health care services to rural India. They serve as therapeutic agents as well as important raw materials for the manufacture of traditional and modern medicine. Substantial amount of foreign exchange can be earned by exporting medicinal plants to other countries. In India there are 880 medicinal plants species involved in all India trade. Of this, 48 species are exported and about 42 spices are imported. The Ministry of Environment and Forests, Government of India, reveals that there are over 8000 species of medicinal plants grown in the country. About 70 percent of these plants are found in the tropical forest; spread across the Western and Eastern Ghats. The Export-Import Bank of India, in its report for the year 1997, puts medicinal plants related trade in India at $.5.5 billion and the same is growing rapidly. According to World Health Organisation (WHO) the international market of herbal products is around $6.2 billion, which is poised to grow to $5 trillion by the year 2050. Unfortunately, India's share in the global medicinal plants related export trade is just 0.5 percent. The export of Medicinal plants is Rs.33453.23 lakhs during 1991-92 to 2002-2003. Its overall trend has been increased in 0.21 percent. And the average Import of Rs.2827.01 lakhs. Also its trend has been increased in 0.39 percent.