Vol. 10, Special Issue 12 (2021)

Author(s):
Srishti Thakur and Dr. Ashish S Noel

Abstract:
Ayurveda system of medicine is one of the rapid emerging fields of medicine. Due to increase in the demand of Ayurveda products, Ayurveda is coming up in India as a business proposition. As the Coronavirus Disease (COVID-19) crisis take over the world, Ayurvedic products helps in boosting the immunity against this deadly disease. The present study was throw light on the factors affecting growth and performance of Ayurveda industries in Solan district of Himachal Pradesh. The main aim of the study is to study the factors which are affecting the growth of these units. For this purpose, multistage random sampling technique was used for the selection of study area. 45 units out of total 60 units were purposively selected from Nalagarh block of Solan district. Out of these 45 units, 25 licensed Ayurveda pharmaceuticals industry units and 20 licensed Ayurveda cosmeceuticals industry units was selected for the study. From each unit, 5 respondents were randomly selected in this stage. Thus, the total sample size was 225. The collected data were analysed using multiple regression and Garrett’s ranking technique for better interpretation of the results. It was concluded that the major independent factors which were affecting the net profit of these industries were Annual sales, annual production, size of the company, age of the company, competition status, advertisement, types of products manufactured. High transportation cost was the major constraints faced by the respondents in processing of herbal products.