According to an EXIM Bank Report, if the Ayurveda industry continues to grow this rapidly in India, it will be a Rs 7,000 crore market by 2020. With the demand for Ayurvedic products and treatments take a hike in the past few years, Ayurveda brands are finding it difficult to meet the supplies. However, at the same time, they see it as a huge opportunity for small and big brands alike.
“Whether it is a small player or a big player, in our industry at present, everybody is busy,” said Dr Vijay Pratap Kushvaha, Managing Director, Ayurvita Healthcare, in an interview with Wellness India. Here are excerpts from the interview where he tells us about his Ayurveda brand and how it is growing not just in India, but overseas too.
Tell us about Ayurvita.
I incorporated Ayurvita in December 2009 after having worked in the field of Ayurveda internationally for 25 years. We began with our products in the beginning of 2010. Since the beginning, we have been in the franchising mode. We sell our products only through our clinics. We have established ourselves and our products in the last five years. Earlier we were only into clinics, now we have come up with another model where we have clinics and therapy centres. We have Panchkarma, Infra-red Sauna chambers, inch-loss therapies. We combine Ayurveda with body machines. It’s all safe and natural.
How many franchisees do you have so far?
We have around 27 franchisees across India spread over eight states. I have two franchisees in Netherland and 3 in the US. We’ll also be launching in Malaysia in November. We have a franchisee in Kenya and we are in the process of finalizing one in Australia.
How many franchisees are you aiming at by 2020?
In our industry, expansion will depend on the production capacity. I have to first work on my production capacity and then think of expansion aggressively. But we are targeting at least 50 more in India by the next financial year and around 20-25 overseas.
What do you think about the Ayurveda industry in India?
Whether it is a small player or a big player, in our industry at present, everybody is busy. We are not being able to meet our supplies. Production is a challenge, we have to get the raw material. There’s a season for every herb. Patanjali has gone so big that most of their stores are running out of stock for some or the other product. That’s why my focus is to first increase my production capacity. There’s no use of blind expansion.
How many products do you have in your range?
We have around 50 plus products.
Are you looking at increasing range?
We are going to introduce some aroma range, cosmetics range. When a family comes, they get attached to the brand as they get good results and the demand goes up. In our clinic, we give everything of our own. Our medicines are made by us.
Do you think that the growth of India’s Ayurveda industry is going to be stable in the next five years?
It will be higher every single day.
