As the Union Finance Minister Nirmala Sitharaman, is all set to present the Indian Budget for 2023-24, we reached out to Ameve Sharma, Co-founder of Kapiva, to understand what the D2C and Ayurveda sector is expecting from the upcoming budget.
In his comments about the Union Budget 2023-24, Ameve Sharma, Co-Founder, Kapiva, said, “We are glad that in the Union Budget of 22-23, a significant portion (Rs 3,050 crore) was allocated to the Ministry of Ayush to promote preventative healthcare.”
“We are expecting this budget to increase further, in line with the uptick in consumer acceptance of preventive, traditional medicines in the post-Covid era. The industry would appreciate an even steeper increase in the budget earmarked for research grants in the field of Ayurveda. This will foster innovation through government & industry collaborations, as the millennial consumer looks for proof of clinical efficacy.”
Further continuing to exceed expectations, he added, “As a leading homegrown brand in the sector, we are hopeful that this Union Budget will contribute immensely to India’s Ayurvedic growth story.”