Sculpting for a Global Market : Indian Ayurvedic Manufacturing Sector in the Open Regime

The paper tries to comprehend the problems and prospects of Indian Ayurvedic sector in the free market regime. Ayurvedic sector here, have undergone substantial change in theory and practice either as a survival strategy or as a part of the efforts to create its own space in the global competitive market. But seemingly, this sector is looking for a big leap from marginalization to dominance with the help of innovation, boosted by the modern marketing techniques and diversification of products. Two case studies from Kerala, namely Oushadhi and Pankajakasthuri are evident for this. But to reap the future prospects in the economic front, this industry has to tackle a large number of issues viz. standardization, raw material depletion, intellectual property protection etc. not on priority wise but concurrently, since these all calls for immediate attention. While from a theoretical and ideological ground, this move is very much debatable; from an economic point of view this seems to be inevitable and most importantly state have a comprehensive role in setting the way clear