Reverse Innovation in Ayurveda: Lessons to Learn
Journal Title: International Journal of Modern Research In Engineering & Management. - Year 2018, Vol 1, Issue 3
Abstract
Ayurveda has existed as a system of medicine in India since times immemorial. Earliest references to it are made in the ancient religious scriptures called Vedas dated more than 5000 years ago. The cross-country trade among the nations made the science of Ayurveda known to the western world and impress it due to the absence of adverse side effects present in Allopathy, the most widely used medical practice system in that region. Since middle twentieth century, Ayurveda has been adopted and popularised as an accepted form of alternative medicine in the Western world. However, various laws and medical regulations, unregulated practice and fast commercialisation of Ayurvedic system of medicine has also resulted in ethical and legal issues. This paper initially discusses the significance of reverse innovation and thereafter presents a case study of reverse innovation in Ayurveda to draw suggestions for the benefit of other fields. The methodology used includes analytical study of relevant documents, archival records and interviews. The research shows how indigenous frugal products can prove themselves to be financially beneficial for the global market and at the same time be used for fulfilling the need of inclusive welfare, thus playing a significant innovative role in the growth of an economy. Nevertheless, there can be certain caveats too, which, if taken care of, shall lead to a win-win situation for all the stakeholders.
Authors and Affiliations
Dr. Shailly Nigam
Keywords
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