Resurfacing a September study: RIS estimated India's Ayush services economy at US$36.92bn in FY2024-25
RIS estimates India’s Ayush services economy at US$36.92 billion in FY2024-25, with a 16.91% compound annual growth rate since FY2022-23. The Ayush-based wellness segment, including yoga centres, spas and resorts, grew at a 21.29% CAGR.
Read the source at PIB India (HTML list)Why it matters to operators and investors
RIS estimates India’s Ayush services economy at US$36.92bn in FY2024-25, with wellness services outgrowing the sector at 21.29% versus 16.91% CAGR since FY2022-23, making operator profitability a key diligence priority.
What to watch next
- Whether subsequent estimates confirm wellness-services growth separately from the broader US$36.92bn Ayush services economy.
- Comparable-centre revenue, utilisation and membership renewals versus growth driven by new locations.
- Product attachment rates and repeat purchases generated by wellness-service partnerships.
- Practitioner wages, hiring constraints and property costs relative to achievable service prices.
- Changes in licensing, service-quality standards, advertising enforcement and health-claim scrutiny.
The counter-case
The 21.29% CAGR applies to Ayush wellness services, not the entire US$36.92bn Ayush services economy. A two-year estimated growth rate does not establish durable demand, operator profitability or upside for any particular retailer; pricing, formalisation or a favourable starting base could explain part of the increase.