Delivering the inaugural speech at World Ayurveda Expo and Herbal Trade Fair at Ernakulathappan ground, O Rajagopal, Union Minister for Urban Development and Poverty Alleviation, said that Hudco is ready to finance an Ayurveda Park in Kerala. The expo and trade fair are being held as the part of the World Ayurveda Congress organized jointly by Swadeshi Science Movement and the Ministry of Health and Family Welfare.

Expressing his Ministry's willingness to fund any viable and socially useful projects in Ayurveda, Rajagopal said that the Hudco, the Central Government owned housing finance company, will help establish the park with modern facilities.

Stressing the importance of Ayurveda, as an alternative system of medicine, he emphasized the need for standardization of Ayurvedic medicines to make them universally acceptable.

Farmers of Kerala should be encouraged to cultivate medicinal plants as there is great demand for herbal medicines, he said. Pointing out that there is no Ayurveda University in the State, he urged the State Government to set up a separate department for Ayurveda.

More employment opportunities can be created if medicinal plants are cultivated in the vast tracts of the marshy and waste land across the country, said Annasaheb M K Patil, Union Minister of State for Rural Development, who presided over the function.

India has about 60 per cent of world's total medicinal plants but steps are not taken to tap its potential. And the practice of Ayurvedic products being classified as food products in certain countries has to changed, he said.

M K Patil said that the global herbal market expected to reach a value of Rs 250,000 crore by the year 2010. Currently, India's share in the world market is only five per cent.

Dr. P Sankaran Kutty, secretary general of World Ayurveda Congress, Justice K K Narendran, working chairman of the reception committee, Dr. K I Vasu, president of Vijnan Bharati, Dr. K Ravindran, district president of Swadeshi Science Movement and N Damodaran, co-chairman of World Ayurveda Expo and Herbal Trade Fair were also present.

Dr N K Mahadevan and Karimkunnam Ramachandran Nair were felicitated at the function.