It is reported that the government on Thursday took a decision to establish a Pharmacopoeia Commission at a cost of Rs. 14.08 crore aimed at designing native medicines, striving to raise the country's share in the $62-billion global herbal drug industry.
"The Union Cabinet today approved setting up of a Pharmacopoeia Commission for development of Ayurveda, Siddha and Unani medicines in the wake of increasing cost of modern healthcare drugs and demand of herbal medicines," Information and Broadcasting Minister Ambika Soni uncovered to media persons after the meeting.
A Commission is reported to manage publication and revision of standards on Ayurveda, Siddha and Unani drugs, in addition, to their formulation, development and publishing standards.
The global trade in herbal drugs touches around $62 billion. Of this, China's grabs a $19 billion share, compared to a mere $1 billion by India, a senior official posted.
The Commission would operate and develop standards and quality specifications of identity and strength of raw material also.
It would be its task to outline standard manufacturing procedures for Ayurveda, Siddha and Unani drugs, apart from maintaining a national depository that would facilitate reliable reference of the raw material.