India however has the richest medical tradition in the world. It is a gold mine of well-recorded and traditionally well-practised knowledge of herbal medicine. It is the largest producer of medicinal herbs and is rightly called the botanical garden of the world. There are very few medicinal herbs of commercial importance which are not found in this country. India officially recognizes over 3,000 plants for their medicinal value. It is generally estimated that over 6,000 plants in India are in use in traditional, folk and herbal medicine, representing about 75% of the medicinal needs of the third world countries. Three of the 10 most widely selling herbal medicines in the developed countries namely preparations of Allium sativum, Aloe barbadensis and Panax species are available in India. It covers only 7% of the earth’s land surface, yet harbours more than 70% of the total plant species. It has a vast variety of flora and fauna commanding 7% of the world biodiversity and supports 16 major forest areas.

A land of immense biodiversity in which 2 out of the 18 hot spots of the world are located, India is also one of the 12 mega-biodiversity countries in the world. The total number of plant species of all groups explored so far is 45,000. Of these seed-bearing plants account for nearly 15,000–18,000. India enjoys the benefits of varied climate, from alpine in Himalaya to tropical wet in the south and arid in Rajasthan. Such climatic conditions have given rise to rich and varied flora in the Indian subcontinent.

With the large growth forecast figures for the herbal drug market by the year 2050, it is evident that herbal remedies would become increasingly important especially in developing countries. Low cost of man power, rich accumulated traditional knowledge on medicinal plants, large biodiversity and lowering international trade barriers give India a tremendous potential and advantage in this emerging area, which need to be capitalized on.