Skip to main content

MoU with Equatorial Guinea on Medicinal Plants gets Cabinet nod

MoU with Equatorial Guinea on Medicinal Plants gets Cabinet nod

The MoU will enhance bilateral cooperation between the two countries in the area of Medicinal Plants

Related Category:

The Union Cabinet chaired by Prime Minister Narendra Modi, today, has given its ex-post facto approval to the Memorandum of Understanding (MoU) on cooperation in the field of Medicinal Plants between India and Equatorial Guinea.

The MoU will further enhance bilateral cooperation between the two countries in the area of Medicinal Plants.

The financial resources necessary to conduct research, training courses, conferences and meetings will be met from the existing allocated budget and existing plan schemes of the National Medicinal Plants Board, Ministry of Ayurveda, Unani, Siddha & Homoeopathy (AYUSH).

India is one of the richest countries in the world in terms of biodiversity, having 15 agro-climatic zones. Out of the 17,000-18,000 species of flowering plants, more than 7,000 are estimated to have medicinal usage in folk and documented systems of medicine like Ayurveda, Unani, Siddha & Homoeopathy (AYUSH System of Medicine). About 1,178 species of medicinal plants are estimated to be in trade of which 242 species have annual consumption levels in excess of 100 metric tonnes per year.

Medicinal plants are not only a major resource base for the traditional medicine and herbal industry but also provide livelihood and health security to a large segment of Indian population. There is global resurgence in traditional and alternative healthcare systems resulting in world herbal trade which stands at US$ 120 billion and is expected to reach US$ 7 trillion by 2050. Moreover, there are a large number of medicinal plants, particularly those found in tropical region, which are common to the two countries given similar geo-climatic factors.

Votes with an average with

Related Story

Case IH to launch coffee harvester in Africa
Case IH to launch coffee harvester in Africa

Case IH is going to launch its Coffee Express 200 Multi self-propelled coffee harvester onto the African markets, in a move designed to further extend the brand’s harvest product offering and…

New Holland Agriculture helps Myanmar farmers fight malaria
New Holland Agriculture helps Myanmar farmers fight malaria

New Holland Agriculture, a brand of CNH Industrial, and its local distributor in Myanmar, Yoma Heavy Equipment (YHE), are partnering with M2030, a movement launched by the Asia Pacific Leaders…

How will be monsoon rainfall in 2019? Here’s IMD forecast, Photo: Shutterstock
How will be monsoon rainfall in 2019? Here’s IMD forecast

South west monsoon seasonal rainfall, June to September, across India is likely to be normal, India Meteorological Department (IMD) has said in its forecast. Quantitatively, the monsoon seasonal…