The Federation of Indian Herbal Industry (FIHI), the recently formed association of various stakeholders related to the Indian herbal industry, will soon set up a first of its kind Information and Resource Centre for providing comprehensive data on various systems of herbal practices, products, export opportunities and other related issues.

Talking to Pharmabiz, K Bhanu, vice president of FIHI said work on developing the Data Processing Centre has started and the association was in the process of mobilizing various resources required for setting up the bioinformatics centre. The centre would provide comprehensive information to its members on the various medicinal plants available in various countries, cultivation practices, trade information and prevailing prices in various continents, marketing options, usage etc. Further, the centre would stress on incorporating quality control standards and validation for growing, harvesting and processing of medicinal plants with a view to create a global market for the Indian herbal industry. Details of the resource centre would be worked out soon, said Bhanu.

He noted that at present, less than five per cent of the total potential of medicinal plant exports was utilized by India, and we lack comprehensive data on area and extent of cultivation. Lack of market knowledge and the unorganized status of the growers and traders were one among the main reasons for failing to tap the global markets.

He said FIHI, formed during February 2004, now has a membership of 35 industry representatives and associations. By August 2004, this will be increased to 100, and an elected body would spearhead the activities of FIHI.

Outlining the objectives, he said the association would act as a common platform for interaction among the manufacturers, scientists, policy makers and research development institutions in the herbal sector. It would stand for the interests of various stakeholders involved in the herbal cultivation promotion, quality control, standardization, processing and manufacturing of value added products with scientific validation, besides coordinating with the existing research and similar initiatives in the field.

Popularizing Indian herbal industry globally through various programmes and trade shows, knowledge management for the stake holders etc are also part of the objectives, said Bhanu.

He said the association has also started a quarterly newsletter 'Herbal Vision' to disseminate update information about the association and its objectives.