Vol. 10, Special Issue 4 (2021)

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

Abstract:
Ayurveda system of medicine is used by most of the Indian households. 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 through light on the growth performance of Ayurveda industries in Solan district of Himachal Pradesh. The main aim of the study is to study the compound annual growth rate of the Ayurveda industries units and the factors 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 Compound Annual growth rate and Garrett’s ranking technique for better interpretation of the results. It was concluded that as the demand of the Ayurveda products are increasing over the years from the previous years, the revenue or profits of the Ayurveda industries units are also increasing. High cost of raw material was the major constraints faced by the respondents in processing of herbal products.