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A Memorandum of Understanding (MoU) was signed by IIIT Kottayam (an institution of national importance, Government of India) and Vaidyaratnam Oushadhasala Pvt Ltd, a well-known Ayurvedic pharmaceutical company in Kerala, under which projects aimed at giving "empirical support" to the ancient Indian medical science and integrate it with technology. During the MoU exchange ceremony, delegates from Vaidyaratnam and IIIT Kottayam were present.

Under the terms of the MoU, the faculties of IIIT Kottayam and Vaidyaratnam will collaborate on projects to investigate ways to integrate technology with Ayurveda. Dr. M. Radhakrishnan, Registrar, IIIT Kottayam emphasised the importance of incorporating cutting-edge technologies into India's ancient and rich Ayurvedic traditions in order to increase global visibility and reach into previously unexplored areas and dimensions.

Dr. E. T. Krishnan mooss, the Executive Director of Vaidyaratnam, was ecstatic at the prospect of incorporating advanced technology into their rich ayurvedic practises and heritage, which began eighty years ago. Dr. Krishnan mooss, a scion of the Ashtavaidya tradition, envisioned working in tandem with the goals of the Ayush Ministry of the Government of India, with the guidance of IIIT Kottayam. The signing ceremony of the MoU reached an agreement that both IIIT Kottayam and Vaidyaratnam will uphold the integrity and rich tradition of Ayurveda and social obligation in order to cater to the various segments of society at large.