BOI approves export of ayurvedic medicines
The Board of Investment of Sri Lanka granted investment approval to Gokula Natural Medicines (Private) Limited for a project to manufacture ayurvedic medicines for the export market.
The investment agreement worth Rs. 22 million is a joint venture between Gokula Natural Medicines and Iron River, United Kingdom. Chairman of Gokula Natural Medicines Limited, Ayur. Dr. M. B. Ratnayaka said that the company will manufacture ayurvedic medicines of international standard that will be exported to the European market.
Evolving throughout history, ayurveda remains an influential system of medicine in South Asia. Ayurveda is considered to be a form of complementary and alternative medicine within the western world having a growing interest.
“Ayurvedic medical methods which were limited to countries like Sri Lanka and India have now become an international practice. The current requirement for ayurvedic medicine to the western world is supplied by India and China. There is an immense opportunity to earn foreign currency by penetrating this segment” said Dr. Ratnayaka.
He said that herbs that are required to manufacture the medicine are not available in large quantities in Sri Lanka. To address this issue the company will set up a 100 acre Herbal plantation in Kurunagala.
The company also expects to setup seven ayurvedic health spas in the country with the guidance and support from the Ministry of Indigenous Medicine. The first two ayurvedic health spas are expected to be established in Bandarawela and Hambantota.
Source :The island
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