Aayush Wellness sets up subsidiary in Singapore to drive Southeast Asia expansion

New Delhi: Healthcare company Aayush Wellness Ltd has set up a wholly owned arm in Singapore to drive its expansion in the Southeast Asian market, according to a filing.

The board of directors of the company approved the formation of a wholly-owned subsidiary in Singapore with an initial capital investment of SGD 10,000, the company said in an exchange filing.

"This strategic expansion marks a significant step in the company's global growth strategy and will serve as a launchpad for its nutraceutical and healthcare products across the rapidly expanding Southeast Asian markets," Aayush Wellness stated in the filing late on Monday evening.

"Our new Singapore-based subsidiary will enable us to tap into one of the world's most dynamic wellness markets, offering greater agility in operations, regulatory efficiency, and direct access to high-growth ASEAN economies," Aayush Wellness Managing Director Naveena Kumar said.

The Southeast Asian nutraceutical market is projected to reach USD 15.1 billion by 2028, growing at a CAGR of 7.5 per cent, driven by rising health consciousness, urbanisation, and preference for preventive healthcare solutions, Aayush Wellness said.